Digital Asset Holdings, the company behind the Canton Network blockchain used by several major banks and trading companies, is seeking $300 million from investors including Andreessen Horowitz’s crypto a16z, at a valuation of around $2 billion, according to Bloomberg.
The funding round is expected to close in the coming weeks and the amount raised could vary, people familiar with the matter told Bloomberg.
The sources said investment banking firm FT Partners was consulting with Digital Asset on the funding round.
Digital Asset Holding, Canton Network and a16z crypto did not respond to a request for comment and confirmation from CoinDesk.
The Canton Network is a privacy-friendly blockchain infrastructure that aims to connect financial institutions and their tokenized assets through interoperable and permissioned applications.
In February, it revealed that a group of global financial firms had entered into the first cross-border intraday repurchase agreement using UK government bonds tokenized 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.
The digital assets have received an estimated support of around $50 million in late 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 could be the first since raising $2.2 billion a week ago for its latest crypto fund, bringing its total capital dedicated to the sector to just under $10 billion spread across five funds.
