Digital Asset raises $355M to scale Canton with a16z crypto

Digital Asset raised $355 million in a funding round led by Andreessen Horowitz’s crypto fund, a16z crypto, to expand the Canton Network’s role in regulated financial markets. The company said the capital will support ecosystem growth, deeper engagement with developers and financial institutions, and continued onboarding of assets and regulated workflows onto the network.

The round included participation from a wide group of investors across traditional finance and crypto, including HSBC, BNP Paribas, Citadel Securities, CME Ventures, Broadridge, Coinbase Ventures, S&P Global, SBI Group, Tradeweb, Apollo Funds, ABN Amro, and the Abu Dhabi Investment Authority through a subsidiary. Digital Asset also said the financing begins a formal partnership with a16z crypto that will give the company access to the firm’s experience in company building, policy, research, and crypto scaling.

The raise underscores growing institutional interest in blockchain infrastructure designed for capital markets rather than consumer crypto use cases. Canton is positioned as onchain infrastructure for regulated workflows, and the investor list suggests financial institutions are backing the network as both a technical platform and an industry coordination layer.