Digital Asset, a New York-based blockchain infrastructure company behind the Canton Network, raised US$355 million in a round led by a16z crypto.

The company said the funding will support efforts to bring capital markets on-chain.

Investors included ABN Amro, HSBC, Apollo Funds, and Citadel Securities.

The deal exceeded a reported US$300 million target. It valued Digital Asset at US$2 billion.

Canton is designed for regulated finance institution. The network limits transaction participants while allowing oversight access when needed.

Digital Asset said the network already has about 600 validators. It also supports applications including Broadridge’s repurchase agreement platform, Goldman Sachs’ digital asset platform, and Depository Trust & Clearing Corporation’s planned US Treasury collateral project.

The raise comes as institutional tokenization grows, alongside competing bank-led networks such as JP Morgan’s Kinexys.

🔗 Source: CoinDesk