DA will use the funding round to build out the Canton Network.
Blockchain pioneer Digital Asset (DA) has received $355 million via a funding round led by Andreessen Horowitz’s crypto venture capital fund — a16z crypto — that will support DA’s next phase of growth for the Canton Network, a public layer-one blockchain whose backers hope will become a shared infrastructure.
Officials say that major firms participated in the funding round, such as: 7RIDGE, ABN Amro, the Abu Dhabi Investment Authority (via a wholly owned subsidiary), Alumni Ventures, Apollo Funds, BNP Paribas, Broadridge, Citadel Securities, CME Ventures, Coinbase Ventures, Greenwulf Asset Management, Hanwha Investment & Securities, HSBC, iCapital, Liberty City Ventures, Optiver, Polychain, R136 Ventures, S&P Global, SBI Group, Smash Capital, SoFi, and Tradeweb.
Financial Technology Partners (FT Partners) served as the exclusive strategic and financial advisor to DA on this transaction, officials say.
“With support from existing ecosystem participants and new entrants, DA will continue expanding the assets, applications, and participants on Canton. The company will focus on use cases where shared, privacy-enabled infrastructure can reduce friction and improve capital efficiency– including tokenization, collateral mobility, settlement, payments, and other regulated financial workflows,” according to the announcement.
The new round also marks the start of a partnership between Digital Asset and the Andreessen Horowitz fund, “giving DA access to a16z crypto’s expertise … as Canton scales and the ecosystem expands,” officials say. “For capital markets to move onchain, institutions need infrastructure that reflects how they actually operate – with privacy, compliance, scale, and interoperability built in from the start.”
“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,” says Yuval Rooz, co-founder and CEO of Digital Asset, in a prepared statement.
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