Digital Asset, the company behind the Canton Network and the Daml smart contract language, is seeking roughly $300 million in fresh funding at a valuation of approximately $2 billion, with Andreessen Horowitz's crypto arm expected to lead the round, according to a Bloomberg report. Final terms have not been confirmed and could change before closing.
The raise would be a significant step up for a firm that has spent more than a decade building blockchain infrastructure for regulated financial markets. Its existing backers include DRW, Citadel Securities, Goldman Sachs, BNY Mellon, and Nasdaq. The company also raised $50 million in 2025.
Founded in 2014, Digital Asset has built its business around two core products. Canton Network is designed to support tokenized real-world assets under the compliance and settlement constraints that institutional participants require. Daml, its smart contract language, gives financial firms a framework for building complex on-chain workflows without sacrificing the controls that regulated markets demand.
The funding push comes at a moment when institutional capital has grown more deliberate about where it places blockchain bets. Venture investment in the sector pulled back sharply after 2022, but infrastructure tied to regulated markets has continued to attract serious money. a16z crypto, which is currently raising its fifth dedicated crypto fund, has been among the more consistent backers in that corner of the market.
Canton Network sits at the centre of Digital Asset's growth strategy. Banks and asset managers exploring tokenization of bonds, funds, and private market products have sought out networks that offer privacy controls and settlement finality, and Canton was built precisely to serve that demand.
