Canton Network Owner Seeks $2 Billion Valuation With New Funding

Blockchain developer Digital Asset Holdings is reportedly wrapping a funding round that could value it at $2 billion.

The financing is expected to bring in around $300 million, Bloomberg News reported Monday (May 11), citing sources with knowledge of the matter. These sources say the round is being headed by Andreessen Horowitz’s 16z crypto, the industry’s largest venture backer.

Although the final amount could change, the report notes that the deal highlights the ongoing institutional demand for Digital Asset’s specialized technology. The company is known for its Canton Network, a public blockchain designed specifically for mainstream financial transactions.

The network lets users maintain privacy for sensitive information, the report added, which has drawn the attention of big banks and trading firms.

Digital Asset raised $50 million last year from investors including Nasdaq and BNY, as well as a separate 2025 funding round that brought in $135 million.

Bloomberg notes that the interest from a16z is arriving at a pivotal moment for the industry. While venture investment in crypto has fallen to multi-year lows, a16z recently bolstered its position by raising $2.2 billion for its latest crypto fund, Bloomberg added.

The report also points to an analysis from Kaiko which says that the “Canton Coin” token has shown a “resilient trajectory,” outperforming the larger, and otherwise stressed, crypto market.

In other blockchain-related news, PYMNTS wrote earlier this month about some of the issues companies need to contend with as stablecoin adoption grows. The same features that make these tokens attractive — speed, accessibility and borderless transferability — can also make them ripe for misuse.

“Unlike traditional banking systems, where intermediaries play a central role in monitoring transactions, stablecoin networks often rely on a patchwork of exchanges, wallet providers and on-chain analytics firms to enforce compliance,” that report said.

During last year alone, an estimated $17 billion was lost to crypto-related fraud, with AI-enabled scams becoming dramatically more sophisticated.

“The amount of content created for scamming people is absolutely through the roof. Our customers are swamped,” Emmanuel Marot, vice president of products at Chainalysis, said in an interview about the company’s “blockchain intelligence agents,” introduced in March.

However, the future of the digital asset sector “sure looks bright,” Marot added, noting that “there’s a real-world usage and a need to make sure that the money goes to the right place.”