Hassan Maishera
TL;DR
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Digital Asset Holdings, the company behind the Canton Network, is raising roughly $300 million at around a $2 billion valuation.
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This latest funding round is being led by Andreessen Horowitz’s a16z crypto and is expected to close in the coming weeks.
Digital Asset, the firm behind the institutional blockchain Canton Network, is reportedly raising around $300 million at a valuation of roughly $2 billion, with Andreessen Horowitz leading the funding round. This is according to a Bloomberg report on Sunday.
The financing is expected to close within the coming weeks, although the final amount could still change.
The raise would represent a major jump from the company’s previous funding rounds. Digital Asset secured $135 million in June 2025 in a round led by DRW Venture Capital and Tradeweb Markets, with participation from Goldman Sachs, Citadel Securities, and Depository Trust & Clearing Corporation, among others.
That was followed by a $50 million raise in December 2025 backed by BNY Mellon, Nasdaq, S&P Global, and iCapital.
Canton Network Gains Institutional Momentum
This latest development comes as Canton Network continues to gain institutional adoption. Canton Network is a public, permissionless Layer 1 blockchain with configurable privacy features designed specifically for institutional finance.
The network supports applications written in Digital Asset’s open-source smart contract language, Daml, enabling tokenized asset workflows across multiple parties while keeping transaction data confidential.
The blockchain has gained significant traction among major financial institutions over the past year. Visa became a Canton Super Validator in March, marking the payments giant’s first blockchain governance initiative.
More than $6 trillion in tokenized assets have reportedly been issued or processed on the network. Visa also integrated Canton into its stablecoin settlement pilot in late April alongside rival networks including Base, Polygon, Arc, and Tempo.
Canton’s expanding ecosystem has also attracted activity beyond traditional institutions. In November, Canton Strategic Holdings, formerly known as Tharimmune, raised $540 million to establish a Canton Coin treasury backed by DRW, ARK Invest, Kraken, and others.
Earlier in March, a project called Zenith completed atomic swaps between the Canton Network and an EVM-compatible environment, potentially opening the ecosystem to the broader Ethereum developer base.
a16z Doubles Down on Privacy-focused Blockchain Investments
For a16z crypto, the investment would come less than a week after the firm announced a $2.2 billion raise for its fifth crypto-focused fund, bringing its total dedicated crypto capital to approximately $10 billion across five funds.
The firm has repeatedly highlighted privacy as a key missing component preventing traditional finance from fully migrating to on-chain. General partner Ali Yahya argued earlier this year that confidentiality features are critical for institutional adoption.
That view closely aligns with Canton’s positioning. Unlike public blockchains such as Ethereum or Solana, Canton offers protocol-level privacy and confidentiality guarantees that supporters believe are essential for institutions handling sensitive financial data and trade secrets.
