Canton Network Secures $135 Million Funding Led by DRW Venture Capital

Digital Asset, the developer behind the privacy-focused blockchain network Canton Network, has successfully concluded a $135 million strategic funding round. This round was led by DRW Venture Capital and Tradeweb Markets, with significant contributions from BNP Paribas, Circle Ventures, Citadel Securities, Depository Trust & Clearing Corporation (DTCC), Virtu Financial, and Paxos. The diverse group of participants reflects a growing interest in blockchain technology from both traditional finance and cryptocurrency sectors.

The Canton Network is designed with configurable privacy, making it an ideal platform for testing Real-World Assets (RWAs). Several prominent financial institutions, including Goldman Sachs and Bank of New York Mellon, have already begun testing a variety of RWAs on the platform. These assets include bonds, money market funds, alternative funds, commodities, repurchase agreements, mortgage loans, life insurance, and annuity products. The funding will enable the Canton Network to expand its coverage of these asset classes, further solidifying its position in the digital finance landscape.

Digital Asset, the company behind the Canton Network, is a leading provider of blockchain software and services. Their products are built on Daml, a sophisticated platform for developing and running complex multi-party applications. Daml utilizes advanced smart contract languages and tools, ensuring that all participants in an application remain synchronized and have access to reliable real-time data. The platform's privacy features and top-tier SDK make it a robust solution for enterprises looking to establish economic value through internet networks.

The successful completion of this funding round is a significant milestone for Digital Asset and the Canton Network. It not only validates the platform's potential but also underscores the increasing interest from traditional financial institutions in blockchain technology. As the Canton Network continues to expand its RWA coverage, it is poised to play a crucial role in the future of digital finance, bridging the gap between traditional financial systems and the emerging world of cryptocurrencies.