Digital Asset Holdings has closed a $355 million funding round, spearheaded by Andreessen Horowitz’s crypto investment arm. This infusion of capital bolsters the firm behind the Canton Network, a blockchain tailored for institutional finance and tokenized assets.
a16z contributed $100 million to the round, with additional support from industry heavyweights such as Citadel Securities, Apollo, BNP Paribas, CME Ventures, Coinbase Ventures, HSBC, Optiver, and the Abu Dhabi Investment Authority. The fundraising follows earlier reports in May that sought around $300 million at a valuation near $2 billion, underscoring sustained investor appetite for blockchain infrastructure catering to regulated finance.
The company intends to deploy the funds toward partnerships, acquisitions, and ecosystem growth. Canton Network is positioned as a layer-1 blockchain designed for tokenized assets and financial workflows, prioritizing privacy, controls, and smart contract capabilities. Its architecture enables users to maintain confidentiality for selected information while facilitating shared settlement across diverse market participants.
Canton has already processed $6 trillion in tokenized issuance, focusing on real-world assets, settlement, and collateral management. The platform employs a two-tier consensus model for horizontal scaling and aims to ensure smart contract interoperability across connected applications. This approach addresses a critical barrier for traditional finance institutions that cannot operate on fully transparent public blockchains for sensitive activities.
Digital Asset’s trajectory reflects growing Wall Street adoption. In 2025, the firm raised $50 million from backers including Nasdaq and Bank of New York Mellon, followed by a $135 million strategic round involving Goldman Sachs, Citadel Securities, DTCC, BNP Paribas, and Tradeweb Markets. The latest $355 million raise arrives as tokenization becomes a focal point for major financial entities, testing bonds, money market funds, and settlement tools on blockchain rails.