Digital Asset Holdings is raising $300 million at a $2 billion post-money valuation in a funding round led by a16z Crypto, according to Bloomberg. The enterprise blockchain company behind Canton Network, a permissioned ledger designed for financial institutions, expects the round to close within several weeks. The capital injection arrives as Digital Asset accelerates partnerships with major financial infrastructure players, including the Depository Trust & Clearing Corporation, which custodies $114 trillion in liquid assets.
Canton Network Gains Institutional Traction
Canton Network is a permissioned blockchain built specifically for regulated financial institutions, featuring privacy controls and institutional-grade infrastructure. Since December 2025, Digital Asset has deepened integration with DTCC, enabling tokenization of custodied assets on the network. The partnership targets a July 2026 pilot for trading tokenized assets, with a full service launch planned for October 2026. Moody’s deployed ratings data on Canton Network in March 2026, signaling adoption by major financial service providers.
Institutional Adoption Accelerates Ahead of DTCC Launch
Digital Asset raised $135 million less than a year prior, led by DRW Venture Capital and Tradeweb Markets. The new $300 million round nearly doubles that investment and reflects growing confidence in the Canton ecosystem. Japan Securities Clearing Corporation announced testing of onchain government bonds on the network in April 2026. Swiss crypto bank Amina added custody and trading support for Canton Coin in May 2026, expanding the network’s service layer ahead of DTCC’s planned October launch.
Enterprise Blockchain Infrastructure Consolidation
The funding round underscores venture capital conviction in enterprise-grade blockchain infrastructure as a critical layer for financial institution adoption. Unlike public blockchains, Canton Network operates as a permissioned system with explicit access controls, positioning it as a settlement and custody tool rather than a decentralized protocol. DTCC’s involvement signals that traditional financial infrastructure operators see tokenization of custodied assets as a material opportunity, not a speculative experiment.
Timeline and Next Steps
Digital Asset declined to comment on the funding round. The company expects the a16z Crypto-led round to close within several weeks of the May 10 announcement. DTCC’s July pilot and October full launch remain the critical milestones. Institutional adoption of onchain settlement infrastructure will likely depend on regulatory clarity around custody, settlement finality, and interoperability standards across jurisdictions.
