Digital Asset raises $365 million for Canton blockchain development
New funding from Shinhan Financial Group and Standard Chartered's SC Ventures lifted the Canton blockchain developer's latest round to $365 million from $355 million, completed at a $2 billion equity valuation.
Summary
Digital Asset, the developer of the Canton blockchain network for institutional and financial-market use, said South Korea's Shinhan Financial Group and Standard Chartered's SC Ventures added $10 million to its latest fundraising round, increasing the total to $365 million from the initially announced $355 million. The round was led by a16z crypto and was completed at a $2 billion equity valuation, highlighting continued institutional backing for blockchain infrastructure providers serving financial markets.
Terms & Concepts
- Canton blockchain: A blockchain network developed by Digital Asset for institutional and financial-market applications.
- a16z crypto: The cryptocurrency-focused investment arm of venture capital firm Andreessen Horowitz.
- equity valuation: The company value implied by an investment round.