Digital Asset Completes $355 Million Funding Round Led by a16z Crypto

According to The Block, Digital Asset, developer of the Canton blockchain, completed a $355 million funding round on June 11, led by a16z crypto and including investment from Abu Dhabi's state investment authority, Goldman Sachs, BNY Mellon, Citi, Deutsche Börse, CME Ventures, Coinbase Ventures, HSBC, JPMorgan, and others.

The company is profitable and the capital will enable it to pursue strategic acquisitions and partnerships to help clients build on-chain businesses, CEO Yuval Rooz said. Canton is a public, permissionless Layer 1 blockchain for institutional finance with configurable privacy features. The network supports tokenized assets worth $6 trillion, with JPMorgan and DTCC already deploying applications. Visa became a Canton super validator in March and integrated it into its stablecoin settlement pilot.