BNP Paribas, HSBC, Citadel Securities and SoFi join a16z-led round, as Visa and JPMorgan deepen their use of the blockchain network
Digital Asset, the firm behind the Canton Network, has raised $355 million in a round led by Andreessen Horowitz’s crypto fund, with participation from a wide range of established financial institutions including BNP Paribas, HSBC, Coinbase, ABN Amro, Citadel Securities, Tradeweb, SoFi and S&P Global.
Canton is a public, permissionless blockchain designed specifically for institutional finance, built to let participants share infrastructure while maintaining the privacy, compliance and control that regulated markets require. The funding will support broader adoption, with institutions bringing assets, applications and regulated workflows onto the network.
Recent momentum includes Visa becoming a Canton super validator, helping clients run and secure operations on the network, and JPMorgan moving to natively issue its deposit token, JPM Coin, on Canton.
“For capital markets to move onchain, institutions need infrastructure that reflects how they actually operate, with privacy, compliance, scale, and interoperability built in from the start,” said Yuval Rooz, CEO of Digital Asset. “Canton was purpose-built for this, and Digital Asset is working with more than 700 ecosystem participants to make Canton the core infrastructure for global finance.”
Other participants in the round include the Abu Dhabi Investment Authority, Apollo Funds, Broadridge, CME Ventures, Optiver, Polychain and iCapital.
The breadth of participation, spanning major banks, exchanges, asset managers and crypto-native firms, signals growing institutional consensus around blockchain infrastructure for capital markets, though the real test will be how much actual trading volume and asset issuance migrates onto Canton in the coming months.