Digital Asset Secures $135M for Privacy-Focused Blockchain Canton
Digital Asset Secures $135 Million to Enhance Privacy-Focused Canton Network
Major Funding Round Led by DRW and Tradeweb
Digital Asset, the creator of the privacy-centric Canton Network, has successfully raised $135 million in a strategic funding initiative. This round was spearheaded by DRW Venture Capital and Tradeweb Markets, as announced on Tuesday.
Notable Participants from Finance and Crypto Sectors
The funding round attracted a diverse array of prominent institutions from both traditional finance and the cryptocurrency sector. Key participants included BNP Paribas, Circle Ventures, Citadel Securities, the Depository Trust & Clearing Corporation (DTCC), Virtu Financial, and Paxos, among others.
Privacy: A Critical Factor for Financial Institutions
For over a decade, privacy has been a significant concern for enterprises utilizing blockchain technology, particularly among banks and large financial organizations. Digital Asset’s Canton Network prioritizes configurable privacy, appealing to major firms like Goldman Sachs and BNY Mellon, who are exploring real-world assets (RWAs) on the platform.
CEO Highlights Flexibility in Asset Privacy
In an interview, CEO Yuval Rooz emphasized the flexibility of asset privacy settings on the Canton Network. “Anyone can connect to Canton, but when I issue an asset, I have the power to determine its privacy features,” Rooz explained. “For instance, I can create an asset with no privacy, similar to Ethereum, or one that is completely private and remains undisclosed. Both types can operate simultaneously on the network, allowing for complex transactions across them.”
Expanding Real-World Assets on Canton
The recent capital infusion aims to broaden the range of RWAs available on the Canton Network. Currently, the platform supports various asset classes, including bonds, money market funds, alternative investments, commodities, repurchase agreements, mortgages, life insurance, and annuities.
Industry Leaders Back Digital Asset’s Vision
Don Wilson, founder and CEO of DRW, remarked on the significance of this funding round. “Today, leading entities from both the crypto and traditional finance sectors have aligned with Digital Asset to drive the next phase of market evolution,” he stated. “With trillions of dollars in real-world assets already utilizing the Canton blockchain, this funding round propels the company forward and solidifies Canton as the leading protocol for global collateral mobility.”
