The developer behind the Canton Network has raised $355 million to bring Wall Street onchain, one of the largest funding rounds this year for a blockchain targeting institutional finance. The investment is aimed at building out a permissioned network that can handle securities settlement, tokenization, and other high‑value financial operations. It joins a wave of capital flowing into similar projects, including Stripe's Tempo and Circle's Arc, both of which have also raised hundreds of millions in 2026.
What the Canton Network is building
The Canton Network is designed for regulated financial institutions that need privacy, scalability, and compliance controls. Unlike public blockchains, it requires verified participants — banks, asset managers, exchanges — to join. The developer plans to use the $355 million to expand the network's capacity and recruit more institutional partners, with the goal of eventually handling a significant share of traditional Wall Street transaction volume.
Stripe and Circle follow a similar playbook
Stripe's Tempo and Circle's Arc are pursuing the same opportunity. Tempo, built by the payments giant, focuses on real‑time settlement and payment infrastructure for financial firms. Arc, from the stablecoin issuer Circle, targets tokenized asset issuance and settlement. Both have announced significant funding rounds this year, collectively raising hundreds of millions of dollars from investors betting that institutions will move onto purpose‑built blockchains.
The push for onchain finance
The funding surge comes as traditional finance warms to blockchain technology. Major banks have already tested tokenized bonds and funds on various networks, but many have found public blockchains lacking in privacy and regulatory safeguards. Permissioned networks like the Canton Network aim to address those shortcomings by offering controlled access and data isolation. The $355 million round suggests that investors believe there is a real market for such infrastructure.
The developer has not revealed a timeline for going live, but the funding gives it a strong runway. With Tempo and Arc also well‑capitalized, the race to build Wall Street's onchain back end is heating up. Whether any of these networks can scale to handle the trillions of dollars in daily trading volume remains an open question — but the money flowing in shows the industry is betting it can.
