Canton Network Targets $300M Raise at $2B Valuation

Digital Asset is seeking a $300 million funding round that would value the company at $2 billion, marking its largest capital raise to date. This follows a series of significant investments from major financial institutions including Goldman Sachs, BNY Mellon, and Nasdaq. The Canton Network, a permissionless layer-1 blockchain, serves as the core infrastructure for these institutional workflows by utilizing Daml smart contracts to ensure transaction privacy. With over $6 trillion in tokenized assets already processed, the network has successfully integrated high-profile participants like Visa as a Super Validator. The potential raise highlights a trend where large-scale capital continues to flow into specialized infrastructure despite a broader decline in overall crypto venture deal counts. By prioritizing protocol-level confidentiality, Canton addresses a critical barrier for traditional finance firms looking to move assets on-chain. This development underscores the growing institutional appetite for private, compliant blockchain environments that can bridge the gap between legacy systems and decentralized finance.