Digital Asset has raised $355 million in Series E funding in a round led by a16z. Digital Asset is the creator of the Canton Network that aims to support regulated financial services.
Other investors in the round include Adia, Apollo, HSBC, SoFi and more. Boutique Fintech investment bank FT Partners was the advisor on the investment.
Digital Asset is a blockchain infrastructure platform that is on a mission to reshape the financial services sector.
The Canton Network has garnered significant traction having supported tokenization of $9 trillion in real world assets (RWAs), with over 300 TradFi and DeFi partners. Monthly repo US treasury trades now top $6.5 trillion.
Digital Asset founder Yuval Rooz believes that blockchain adoption will be defined by practical applications in the largest markets. To accomplish this, institutions need to be robust along with providing security, privacy and compliance at scale.
“Canton was purpose-built for this, and Digital Asset is working with more than 700 ecosystem participants to make Canton the core infrastructure for global finance. This investment brings additional expertise, reach and ecosystem support at an important moment for both Digital Asset and Canton’s growth.”
a16z General Partner Ali Yahya said Digital Asset is one of the clearest examples of product market fit and foundational infrastructure of the future of financial markets.
