Digital Asset Holdings, the New York-based company building the Canton Network, is in advanced talks to raise about $300 million. The round would value the firm at $2 billion. Andreessen Horowitz's A16z Crypto is leading the investment, though the deal hasn't closed yet.
The company and its product
Digital Asset Holdings develops the Canton Network, a blockchain platform aimed at financial institutions. The network is designed to let different distributed ledgers talk to each other — a long-standing pain point for banks and asset managers trying to adopt crypto infrastructure. The company has been around for years, but this round suggests investors still see big potential in institutional-grade blockchain plumbing.
Why the valuation matters
A $2 billion price tag puts Digital Asset in the upper tier of private crypto infrastructure firms. That's a strong signal for a company whose technology targets the slow-moving world of regulated finance, not retail trading. It also shows that A16z Crypto, one of the industry's biggest venture funds, is willing to write a large check even in a market that's been choppy.
What happens next
The funding round hasn't closed. That means terms could still shift — valuation, the exact amount, even whether other investors join. Digital Asset and A16z Crypto both declined to comment for this story. The deal is expected to wrap up in the coming weeks, barring any last-minute hiccups.
