DRW Holdings and Liberty City Allegedly Negotiating $500 Million Canton Fund Deal

Trading firm DRW Holdings and venture capital firm Liberty City Ventures are reportedly aiming to secure around $500 million for a publicly listed digital asset treasury that will encompass the Canton Network’s native token, Canton Coin.

As per a report from Bloomberg, citing anonymous sources, DRW Holdings and Liberty City Ventures are expected to provide the bulk of the funds in Canton Coin (CC), while outside investors are anticipated to contribute between $100 million and $200 million.

However, the specifics may evolve since the sources indicated that the deal is not finalized yet.

Based in Chicago, DRW Holdings is a trading firm that diversifies across various asset classes, while New York-based Liberty City Ventures focuses primarily on the crypto market, Web3, and AI. Both firms are supporters of the Canton Network.

This news comes on the heels of another Canton-related announcement this week, where digital asset tech company BitGo revealed a partnership with the Canton Network that will allow for custody support for CC.

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This initiative will offer banks and asset managers a regulatory-compliant means to access the network and the CC token, introducing cold-storage custody, insurance-backed security, and prospects for ecosystem growth via stablecoins and other on-chain assets.