Digital Asset

Blockchain · Fintech · Capital Markets Infrastructure

Funding

Digital Asset closes $365M Series G led by a16z at $2B valuation

Money was never Canton's obstacle; getting banks' decades-old core systems to actually adopt the network is.

• Digital Asset expanded its oversubscribed funding round to $365 million after Shinhan Financial Group and Standard Chartered's SC Ventures added $10 million, all at the same $2 billion valuation set when a16z crypto led the original $355 million close.
• Digital Asset built Canton, a public Layer 1 blockchain designed so regulated banks can move assets and trading workflows onchain while keeping transaction details private and compliant.
• Canton already runs validator nodes at more than 45 institutions and finished a pilot settling $50 billion in tokenized assets across 22 sub-networks with no reported data leaks.
• Canton's native CC token was trading around $0.13 at the time of the raise, giving it a market capitalization of nearly $5 billion.
• CEO Yuval Rooz said the proceeds will strengthen the company's balance sheet and fund mergers, deeper partnerships, and expansion of onchain offerings, with the company already profitable.
• The real test for Canton isn't fundraising but adoption: whether banks with legacy mainframe systems turn validator participation into daily trading volume rather than another well-funded pilot that quietly fades.