Digital Asset Holdings, the company behind the Canton Network blockchain used by several major banks and trading firms, is seeking $300 million from investors, including Andreessen Horowitz’s a16z crypto worth about $2 billion, according to Bloomberg.
The funding round is expected to close in the next few weeks, and the amount raised could vary, people familiar with the matter told Bloomberg.
The sources said investment banking firm FT Partners is consulting Digital Asset on the funding round.
Digital Asset Holding, Canton Network and a16z crypto did not respond to a CoinDesk request for comment and confirmation.
Canton Network is a privacy-enabled blockchain infrastructure whose purpose is to connect financial institutions and their tokenized assets across interoperable, trusted applications.
In February, it revealed that a group of global financial firms executed the first cross-border intraday repurchase agreement using tokenized UK government bonds on its blockchain. The transaction was the first time digital versions of gilts, a $2 trillion market, were used in a cross-border intraday repo.
Digital Asset received support estimated at around $50 million by the end of 2025 from investors including Bank of New York Mellon and Nasdaq. Existing backers also include DRW and Citadel Securities.
For Andreessen Horowitz, participation in this fundraising round may be the first since it raised $2.2 billion a week ago for its latest crypto fund, bringing its total capital dedicated to the sector to just $10 billion across five funds.
