Digital Asset, a provider of institutional blockchain infrastructure, has raised $135 million from investors including Goldman Sachs and Citadel.
According to an announcement on Tuesday, Digital Asset secured $135 million in a strategic funding round led by DRW Venture Capital and Tradeweb Markets, with participation from financial giants such as Goldman Sachs, Citadel Securities, BNP Paribas, and the Depository Trust & Clearing Corporation. Cryptocurrency-focused supporters include Paxos, Polychain Capital, and Circle Ventures.
Digital Asset stated that the funds are intended to accelerate the adoption of institutional and decentralized finance on its Canton Network.
The Canton Network is a permissionless layer one blockchain that offers configurable privacy and institutional-grade compliance. With this new capital, Digital Asset aims to integrate "tens of billions" of real-world assets (RWA) into the network.
As of the time of publication, Digital Asset had not responded to Cointelegraph's request for comment.
In May 2023, Digital Asset announced the Canton Network in collaboration with a group of companies including Microsoft, Goldman Sachs, and Deloitte. In September 2024, Digital Asset and the Depository Trust & Clearing Corporation (DTCC) completed a pilot project for a U.S. Treasury collateral network on the Canton Network.
In early October 2024, Digital Asset completed another major pilot project with clearing and settlement service provider Euroclear, the World Gold Council, and global law firm Clifford Chance. As part of this initiative, gold and bonds—European bonds and UK government bonds—were tokenized on the Canton Network.
By mid-March 2024, the Canton Network had witnessed institutional investors executing over 350 simulated trades in areas such as tokenized assets, fund registration, digital cash, repurchase agreements, securities lending, and margin management through distributed ledger technology. The tests involved 15 asset management firms, 13 banks, 4 custodians, 3 exchanges, and Paxos. Digital Asset co-founder and CEO Yuval Rooz stated:
Amid increasing regulatory transparency, RWAs are expected to surge in the first half of 2025. The total market for RWAs is projected to grow over 260% in the first half of 2025, with a total valuation exceeding $23 billion.
The RWA sector is a hotbed of development. Earlier this month, cryptocurrency payment platform Alchemy Pay expanded into the RWA space through a new partnership with tokenization company Backed, allowing access to tokenized U.S. investment products.
Also this month, U.S. investment management firm Guggenheim expanded its digital commercial paper product through a partnership with Ripple. As a result, the company's fixed income products will be offered on the XRP ledger.
Related: Aptos Labs and Jump Crypto launch Web3 cloud storage layer
Original article: “Digital Asset raises $135M to expand Canton blockchain network”
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