Digital Asset, the firm behind the Canton Network (CC), announced on Thursday that it has obtained strategic investments from four significant traditional financial entities, as Wall Street’s adoption of cryptocurrency progresses.
The investors in this funding round include BNY, a financial services firm managing $57 trillion in client assets, exchange operator Nasdaq, financial intelligence firm S&P Global, and iCapital, a fintech company backed by BlackRock, Blackstone, and JP Morgan. The firm did not specify the investment amount in the press release.
This investment highlights the increasing support from traditional financial institutions for blockchain infrastructures tailored for regulated markets. The Canton Network was designed to permit institutions to issue and trade tokenized real-world assets, such as bonds, loans, and funds, on a shared ledger while ensuring privacy and compliance with legal regulations. It combines aspects of public blockchains, like decentralization, with the protections required by conventional finance.
“Financial entities throughout the ecosystem acknowledge the critical need for blockchain infrastructure specifically designed for regulated markets," Yuval Rooz, CEO of Digital Asset, stated.
The latest investment follows Digital Asset’s $135 million funding round in June, led by prominent firms including BNP Paribas, TradeWeb, Goldman Sachs, DRW, and Citadel Securities.
Canton currently has $6 trillion of assets on-chain, with over 600 institutions engaged within the ecosystem, the firm stated.
Read more: Canton Network Activity Surges as Exchanges Join Validators: Copper Research
