Digital Asset Raises $355M in a16z-Led Round at $2B Valuation

Crypto Insight Summary: Digital Asset raised $355M in an a16z‑led round at a $2B valuation, extending a Wall Street‑backed funding run as banks ramp up pilots on its Canton Network blockchain. Digital Asset Holdings has raised $355 million in a new round led by Andreessen Horowitz’s crypto arm, highlighting Wall Street’s accelerating push into permissioned blockchain infrastructure. A16z crypto contributed $100 million, alongside 7RIDGE, the Abu Dhabi Investment Authority, Citadel Securities and Optiver, in a deal that values Digital Asset at around $2 billion, [according](https://news.bloomberglaw.com/business-and-practice/andreessen-horowitz-backs-blockchain-used-by-wall-street-giants) to a Thursday Bloomberg Law report citing people familiar with the matter. The capital will be used to scale the Canton Network, developed and maintained by Digital Asset, designed for financial institutions to tokenize and settle traditional securities while keeping commercially sensitive data private. Canton has already been [piloted](https://canton-network.info/ecosystem.html) by institutions such as Goldman Sachs, BNY Mellon, BNP Paribas, Standard Chartered, Société Générale and Deutsche Börse. Last month, Bloomberg reported that Digital Asset had [initially been seeking roughly $300 million](https://cointelegraph.com/news/company-canton-network-raises-300m-2-billion-valuation) at that valuation and expected to close the financing within weeks. “We knew institutional adoption was the path,” cofounder and chief executive of Digital Asset, Yuval Rooz, [wrote](https://x.com/YuvalRooz/status/2065033418958618684) on X after the raise was announced, reflecting on Digital Asset’s nearly 12‑year journey from DRW spin‑out to Canton Network. We made bad decisions… But we never let go of our North Star.” The latest raise extends a run of Wall Street-backed funding for Digital Asset. Those rounds added to more than $120 million raised in 2021 from investors including 7RIDGE and Eldridge, following earlier investments from JPMorgan, Citi, Deutsche Börse, Goldman Sachs, IBM, Samsung and Salesforce. _**Magazine:**_[_**Bitcoin will not hit $1M by 2030, says veteran trader Peter Brandt**_](https://cointelegraph-magazine.com/bitcoin-price-million-dollars-2030-prediction-trader-peter-brandt/) Cointelegraph is committed to independent, transparent journalism. Crypto Insight Analysis: Direction: Bullish ETH / Neutral BTC Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: Funding for Canton Network boosts institutional blockchain adoption, benefiting ETH ecosystem.