Canton Developer Raises Another $10M At $2B Valuation

Round Expands to $365 Million With Two New Strategic Backers

Digital Asset, the company behind the Canton Network blockchain, has secured an additional $10 million from Shinhan Financial Group and Standard Chartered's SC Ventures, according to The Block. The new investment increases the total size of the company's recent funding round to $365 million, up from $355 million, at the same $2 billion equity valuation.

Digital Asset announced the strategic additions of Shinhan Financial Group and SC Ventures by Standard Chartered to its previously announced oversubscribed funding round. The amount contributed by each new investor was not disclosed.

The $355 million raise was led by Andreessen Horowitz's crypto fund, a16z crypto, with participation from leading institutions across traditional and decentralized finance. Other backers in that round included ABN Amro, the Abu Dhabi Investment Authority, Apollo Funds, BNP Paribas, Citadel Securities, CME Ventures, Coinbase Ventures, Hanwha Investment and Securities, HSBC, S&P Global, and SBI Group.

Global Reach and Regulated Infrastructure

Shinhan Financial Group, South Korea's largest banking group, is expected to support discussions around institutional adoption in the country and the broader Asian market, complementing the company's recently announced partnership with Hanwha. SC Ventures builds, partners and invests in technologies and infrastructure underpinning the next generation of digital financial markets, and its investment reflects conviction that trusted, institutional-grade market infrastructure will be fundamental to scaling digital asset adoption across regulated financial services.

Canton Network is a public layer-one blockchain designed to provide institutional-grade privacy. The platform allows financial institutions to place assets, applications, and regulated workflows onchain while maintaining control over who can access transaction information. Privacy is a major consideration for banks and other regulated institutions because public blockchains can expose transaction details to all network participants.

Digital Asset co-founder and CEO Yuval Rooz said: "Blockchain adoption in financial markets will be driven by institutions that are ready to move beyond experimentation and into production." The additions broaden the company's investor base with two global financial institutions as demand grows for blockchain platforms that can support regulated financial services while meeting requirements for privacy, compliance, and interoperability.

Sources:
The Block: Canton developer Digital Asset raises additional $10 million at same $2 billion equity valuation
PR Newswire: Digital Asset Expands Oversubscribed Fundraise With Strategic Additions of Shinhan Financial Group and Standard Chartered
Digital Asset Official Blog: Digital Asset Expands Oversubscribed Fundraise With Strategic Additions of Shinhan Financial Group and Standard Chartered