Tharimmune has raised $540 million through a private placement, which will be used to launch a cryptocurrency treasury strategy and acquire Canton Coin (CC), the native token of the Canton Network.
This round of private placement was led by DRW and Liberty City Ventures, with participation from several institutions including ARK Invest, Polychain Capital, and Kraken, raising a total of $540 million, valuing Tharimmune's stock at $3.075 per share.
Tharimmune stated that the funds will be used to purchase CC tokens, support general operations, and expand its role within the Canton ecosystem. The company also plans to become a super validator node, earning token rewards by operating more nodes and enhancing network performance.
Tharimmune focuses on developing innovative therapies to treat inflammatory and immune-related diseases. The company's stock rose approximately 14% following the announcement on Monday, with a closing increase of 8.4% on Nasdaq that day.
Canton Network is a permissioned enterprise blockchain aimed at institutions, enabling interoperability between financial applications and tokenized assets. Its supporters include Goldman Sachs, HSBC, BNP Paribas, Paxos, Deutsche Bank, and the Chicago Board Options Exchange.
Traditional finance is accelerating its migration to on-chain. According to RWA.xyz, the total value of on-chain tokenized assets has exceeded $34.6 billion, with $18.4 billion in private credit, $8.7 billion in U.S. Treasury bonds, and $3 billion in commodities.
Ondo Finance announced in January that it would launch its tokenized U.S. Treasury fund on the XRP Ledger, providing investors with options for government bonds and stablecoin redemptions. The fund was officially launched in June this year.
In July, Centrifuge partnered with Grove to launch two Janus Henderson tokenized funds on Avalanche and collaborated with S&P Dow Jones Indices to bring the S&P 500 index onto the blockchain for the first time.
Related: Reports indicate that a Nordic bank that once rejected cryptocurrency is about to launch a Bitcoin (BTC) ETP.
Original article: “Tharimmune invests $540 million in Canton Coin, advancing cryptocurrency treasury strategy”
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