Digital Asset secures $355M funding round led by Andreessen Horowitz

Digital Asset, the company behind the Canton Network, has closed a $355 million funding round that reads like a who’s who of both Wall Street and crypto. Andreessen Horowitz’s a16z crypto fund led the charge with a $100 million contribution, and the rest of the investor list suggests that the line between traditional finance and blockchain infrastructure is getting thinner by the quarter.

The round values Digital Asset at approximately $2 billion. That’s a significant jump from the company’s $135 million raise in June 2025, which was led by DRW Venture Capital and Tradeweb, meaning the company has pulled in nearly half a billion dollars in fresh capital in roughly 12 months.

The investor list tells the story

Look at who wrote checks here. Citadel Securities, one of the largest market makers on the planet. Abu Dhabi Investment Authority, a sovereign wealth fund managing hundreds of billions. Apollo Funds. BNP Paribas. CME Ventures, the investment arm of the world’s largest derivatives exchange. And then on the crypto-native side, Coinbase Ventures.

What Canton Network actually does

Digital Asset’s flagship product is the Canton Network, a privacy-enabled Layer-1 blockchain built specifically for capital markets. In English: it’s a blockchain designed so that banks, asset managers, and exchanges can tokenize assets and settle transactions without exposing sensitive data to the entire world.

That privacy piece is critical. Most public blockchains operate with full transparency, which is great for decentralization principles but terrible for a bank that doesn’t want its trading positions broadcast to competitors. Canton threads the needle by being public and permissionless while still enabling the kind of data privacy that regulators and compliance departments demand.

The network’s reported numbers are staggering. Canton currently facilitates over $6 trillion in tokenized real-world assets. Monthly transaction volume exceeds $4 trillion. And more than $12 billion in digitally native securities have been issued on the platform. To put that $6 trillion figure in perspective, that’s roughly three times the market capitalization of Bitcoin.

The use cases span tokenization, settlement, collateral mobility, and 24/7 financing. Think of it as rebuilding the back office of Wall Street on blockchain rails, where trades that currently take days to settle could happen atomically, and collateral that sits idle overnight could be put to work around the clock.

For crypto investors watching from the sidelines, the Canton Network does feature a native token called Canton Coin, though this funding round did not involve a new token launch. The investment was structured as equity, not tokens, which further underscores the institutional framing of the deal.

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