Digital Asset Secures $135 Million for Canton Network Expansion

Digital Asset, the primary developer behind the privacy-focused Canton Network, has successfully secured $135 million in a strategic funding round. This round was led by DRW Venture Capital and Tradeweb Markets, with significant participation from a roster of prominent financial institutions, including BNP Paribas, Circle Ventures, Citadel Securities, The Depository Trust & Clearing Corporation, Goldman Sachs, IMC, Liberty City Ventures, Optiver, Paxos, Polychain Capital, QCP, Republic Digital, 7RIDGE, and Virtu Financial.

The funds raised will be instrumental in accelerating the adoption of institutional and decentralized finance (DeFi) use cases on the Canton Network's Layer 1 blockchain. This investment will enable the expansion of real-world asset integrations across various sectors, including bonds, funds, commodities, and money market funds. Digital Asset aims to leverage this capital to enhance the network's capabilities and drive broader adoption.

Yuval Rooz, co-founder and CEO of Digital Asset, highlighted the significance of this funding milestone. He stated that it validates the vision of a privacy-enabled public blockchain designed specifically for institutional adoption. Rooz emphasized that the Canton Network is already actively supporting numerous asset classes and that this raise will accelerate the onboarding of even more real-world assets, making blockchain's transformative promise a reality at an institutional scale.

The funding round also strengthens existing ties with key participants in the Canton Network, including BNP Paribas, DRW, Goldman Sachs, Liberty City Ventures, QCP, and Tradeweb. These entities have contributed to the network's testing, governance, infrastructure, and app development, further solidifying their commitment to its success.

Mathew McDermott, Goldman Sachs Global Head of Digital Assets, expressed the firm's commitment to accelerating the adoption of digital assets and a blockchain-powered financial system. He noted that Goldman Sachs' longstanding relationship with Digital Asset is rooted in a deep conviction in the strength of their technology, which is foundational to the development and ongoing success of GS DAP. Goldman Sachs' participation in this funding round underscores their support for Digital Asset as a critical player in the institutional digital asset ecosystem.

The Canton Network's approach to on-chain privacy is designed to enable institutions to configure confidentiality settings that meet their regulatory and operational requirements. With nearly 400 ecosystem participants, including global leaders in both traditional and decentralized finance, the network is well-positioned to drive innovation and adoption in the blockchain industry.