Digital Asset Raises $355M in a16z-Led Round at $2B Valuation

Digital Asset Holdings has raised $355 million in a funding round led by Andreessen Horowitz’s crypto arm, with a16z contributing $100 million. Other participants included 7RIDGE, the Abu Dhabi Investment Authority, Citadel Securities and Optiver, and the deal values the company at around $2 billion, Bloomberg Law cited people familiar with the matter.

The capital will be used to scale the Canton Network, Digital Asset’s permissioned blockchain for financial institutions to tokenize and settle traditional securities while keeping commercially sensitive data private. Canton has been piloted by Goldman Sachs, BNY Mellon, BNP Paribas, Standard Chartered, Société Générale and Deutsche Börse.

Last month Bloomberg reported the company had initially been seeking roughly $300 million at that valuation and expected to close the financing within weeks. Cofounder and chief executive Yuval Rooz reflected on nearly 12 years from a DRW spin‑out to the Canton Network, writing on X: "We knew institutional adoption was the path.

digital asset, canton network, andreessen horowitz, a16z, 355m funding, 2b valuation, tokenization, permissioned blockchain, institutional adoption, goldman sachs