1 month ago
The concern comes arsenic blockchains designed for large banks and institutions are having a moment, with Stripe's Tempo and Circle's Arc raising hundreds of millions of dollars.
Jun 11, 2026, 1:50 p.m. 2 min read
Digital Asset, the improvement steadfast down the Canton Network (CC) blockchain utilized by large banks and trading firms, said Thursday it closed a $355 cardinal fundraising circular to backmost its efforts to bring superior markets onchain.
The concern was led by a16z, with the information of planetary institutions including ABN Amro, Apollo Funds, BNP Paribas, Citadel Securities, HSBC, SBI Group and the Abu Dhabi Investment Authority done a subsidiary.
The magnitude raised bushed the people of $300 cardinal astatine a $2 cardinal valuation that was reported past month.
The concern comes arsenic accepted fiscal firms progressively backmost blockchain infrastructure built specifically for regulated markets. Tempo, the payments concatenation developed by Stripe and Paradigm, reportedly raised $500 cardinal past twelvemonth astatine a $5 cardinal valuation. Circle Internet (CRCL), the stablecoin issuer down USDC, raised $222 cardinal for its Arc blockchain astatine a $3 cardinal valuation, drafting backing from BlackRock, Apollo Funds, a16z crypto and ARK Invest.
The Canton Network was designed for large fiscal institutions to contented and commercialized tokenized real-world assets, specified arsenic bonds, loans and funds, connected a shared ledger portion maintaining privateness and compliance with ineligible requirements. It combines features of nationalist blockchains, specified arsenic decentralization, with the safeguards required by accepted finance.
"For superior markets to determination onchain, institutions request infrastructure that reflects however they really run – with privacy, compliance, scale, and interoperability built successful from the start," Digital Asset co-founder and CEO Yuval Rooz said.
The steadfast said a16z crypto volition besides supply expertise successful development, argumentation and probe beyond the fiscal backing.
"One of the astir compelling blockchain opportunities is nary longer theoretical; it is emerging arsenic real-world assets and organization workflows determination onchain," Ali Yahya, wide spouse astatine a16z crypto, said successful a statement. "Digital Asset has built 1 of the clearest examples of blockchain product-market acceptable successful regulated finance."
Read more: Why large banks are snubbing unfastened ledgers to physique their ain backstage blockchains
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