Digital Asset Holdings — the firm behind the Canton Network blockchain used by major banks and trading firms — is courting roughly $300 million in new capital at an implied valuation near $2 billion, Bloomberg reported. The prospective investor list is said to include Andreessen Horowitz’s a16z crypto arm.
People familiar with the matter told Bloomberg the round is expected to close in the coming weeks, though the final amount raised could shift. FT Partners is advising Digital Asset on the fundraising, according to the report. Digital Asset, the Canton Network team and a16z did not respond to a CoinDesk request for comment and confirmation.
Why it matters: Canton Network is a privacy-enabled, permissioned blockchain built to connect financial institutions and enable interoperable tokenized assets. The platform has been gaining traction among banks and trading firms for use cases that require privacy and regulatory controls — notably, in February a group of global financial firms completed what was described as the first cross-border, intraday repurchase agreement using tokenized British government bonds (gilts). That deal marked the first time digital versions of gilts — a market worth about $2 trillion — were used in an intraday repo across borders.
Digital Asset has already attracted institutional backers: the company reportedly raised roughly $50 million in late 2025 from investors that included BNY Mellon and Nasdaq, and existing supporters include trading firms DRW and Citadel Securities. If a16z joins the current round, it would come shortly after the firm announced a $2.2 billion raise for its latest crypto fund — a move that pushes a16z’s crypto-dedicated capital to just under $10 billion across five funds.
Taken together, the deal signals continued institutional interest in tokenization infrastructure and permissioned ledger solutions aimed at traditional finance — an area where Canton Network aims to position itself as a bridge between legacy systems and on-chain asset markets.
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