Digital Asset targets $2B valuation in a16z-led raise for Canton Network

Canton Network’s Digital Asset targets $2 billion valuation in a16z crypto-led raise: Bloomberg

Sources familiar with the matter told Bloomberg the fundraiser is expected to close in the coming weeks and the final amount might vary.

By Olivier Acuna | Edited by Sheldon Reback

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Digital Asset Holdings, the company behind the blockchain company Canton Network is seeking $300 million at a $2 billion valuation. ( Shubham Dhage/Unsplash)

Digital Asset Holdings, creator of the Canton Network blockchain used by major financial institutions, is seeking about $300 million at a roughly $2 billion valuation, with a16z crypto among the prospective investors, according to Bloomberg.

The funding round, advised by investment bank FT Partners, follows an estimated $50 million strategic investment in late 2025 from firms including BNY and Nasdaq, alongside existing backers DRW and Citadel Securities.

Canton Network, a privacy-enabled blockchain for connecting tokenized assets across financial institutions, recently facilitated the first cross-border intraday repo using tokenized U.K. gilts.

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 at a roughly $2 billion valuation, 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 company 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.

The Canton Network is a privacy-enabled blockchain infrastructure whose purpose is to connect financial institutions and their tokenized assets across interoperable, permissioned applications.

In February, it revealed that a group of global financial firms completed the first cross-border, intraday repurchase agreement using tokenized British government bonds on its blockchain. The transaction was the first time digital versions of gilts, a $2 trillion market, had been used in an intraday repo across borders.

Digital Asset r eceived backing estimated at about $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 round could be its first since raising $2.2 billion a week ago for its latest crypto fund, taking its total capital dedicated to the sector to just shy of $10 billion across five funds.

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