Digital Asset Holdings raised $355 million from a16z and others for its institutional blockchain Canton Network, which has supported $6 trillion in tokenized issuance.
Digital Asset Holdings raised $355 million in a funding round led by Andreessen Horowitz's a16z crypto fund. The company behind Canton Network, a blockchain designed for tokenized assets and institutional financial workflows, will use the capital for partnerships and ecosystem expansion.
a16z contributed $100 million to the round. Other backers included Citadel Securities, Apollo, BNP Paribas, CME Ventures, Coinbase Ventures, HSBC, Optiver and the Abu Dhabi Investment Authority. The raise exceeds the roughly $300 million Digital Asset was seeking in May at a valuation near $2 billion, as reported at the time.
Canton Network is a layer-1 blockchain that lets institutions keep selected information private while still settling shared transactions across different market participants. Banks, asset managers and exchanges use it for tokenized assets, collateral movement and settlement. According to reports, the network has already supported $6 trillion in tokenized issuance.
The platform uses a two-tier consensus model designed to scale horizontally. Smart contracts are meant to work across connected applications. For traditional finance firms, the privacy controls address a key barrier: fully transparent public chains often cannot handle sensitive client data or regulated products.
Digital Asset has drawn interest from major financial names over the past year. Visa joined Canton as a Super Validator in March 2026 and later added it to a stablecoin settlement pilot. Earlier rounds included $50 million from Nasdaq and Bank of New York Mellon, and $135 million from Goldman Sachs, Citadel Securities, DTCC, BNP Paribas and Tradeweb Markets.
The latest $355 million injection comes as tokenization becomes a central focus for banks and market operators testing bonds, money market funds and collateral on blockchain rails. Digital Asset remains privately held. Traders tracking institutional adoption can follow CME Group (Alpha Score 51, Mixed) and Bank of New York Mellon (Alpha Score 66, Moderate) on AlphaScala.
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