- Digital Asset raised $135 million to grow its institutional blockchain, Canton Network.
- Major investors include DRW Venture Capital, Tradeweb Markets, Goldman Sachs, BNP Paribas, and other fintech and Wall Street firms.
- The funding aims to speed up the use of blockchain technology in institutional and decentralized finance sectors.
- The Canton Network focuses on financial markets, supporting real-world assets like bonds and commodities.
- Supporters expect the network to help large institutions integrate tokenized assets while maintaining privacy and compliance.
Digital Asset, the company behind the institutional blockchain called Canton Network, has secured $135 million in new funding. The announcement came Tuesday and highlighted support from several big firms in the finance and technology sectors.
The funding round was co-led by DRW Venture Capital and Tradeweb Markets. Other major participants included Goldman Sachs, BNP Paribas, Circle Ventures, Paxos, Polychain Capital, and QCP. Digital Asset said it plans to use the new capital to increase adoption of decentralized finance and institutional services on the Canton Network.
“Canton is already actively supporting numerous asset classes—from bonds to alternative funds—and this raise will accelerate onboarding even more real-world assets, finally making blockchain’s transformative promise an institutional-scale reality,” said Digital Asset CEO Yuval Rooz.
Goldman Sachs’ Global Head of Digital Assets, Mathew McDermott, added that the bank has a “deep conviction in the strength” of digital assets. The announcement also noted that the network lets institutions adjust privacy features to address concerns about confidentiality and transparency, which are common barriers to blockchain adoption in finance.
Canton Network is built to help financial institutions process transactions faster and with lower risk. It supports assets like bonds, money market funds, and commodities. The network got its start in 2023 with backing from firms like Deloitte, S&P Global, and Moody’s.
The addition of real-world assets to the blockchain is a growing trend among financial giants. Companies like BlackRock have shown interest in putting securities and commodities onto blockchains so they can be traded at all times in digital form. BUIDL, BlackRock’s first tokenized fund, launched on Ethereum in March 2024.
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