Digital Asset Holdings is pursuing roughly $300 million in new capital at an implied valuation of about $2 billion, according to a Bloomberg report. The financing would support the next phase of Canton Network deployment, giving the company more resources to expand its institutional tokenization infrastructure.
The round is being led by a16z crypto and is expected to close within the coming weeks. If completed, the raise would represent a major step up in Digital Asset’s funding profile, following earlier financing activity that included a reported $50 million round in December 2024.
Canton Network Drives the Fundraising Pitch
Canton Network is described as a privacy-configurable public blockchain built for institutional markets, with governance and confidentiality features designed for banks, asset managers and regulated financial infrastructure providers.
The network has been credited with managing or issuing more than $6 trillion in tokenized assets to date. That figure is being presented as evidence of institutional traction, especially as tokenization becomes a larger priority for financial-market infrastructure.
The expected closing timeline places further announcements in the near term. Because the company is described as still securing commitments, the round remains prospective until final terms and completion are confirmed.
Tokenization Growth Brings Operational Demands
If the financing closes, Digital Asset would likely gain more capacity for engineering, compliance and ecosystem expansion. For Canton, that could mean faster onboarding of banks and asset managers seeking tokenized issuance, settlement and privacy-preserving transaction infrastructure.
A larger Canton ecosystem could also increase demand for liquidity tools, custody integrations and hedging products tied to tokenized assets. As issuance grows, market participants will need stronger settlement rails and risk-management infrastructure around these products.
Institutional adoption also brings heavier scrutiny. Banks and asset managers using Canton will likely focus on custody controls, privacy design and governance standards, particularly where tokenized products interact with regulated markets.
The key signals to monitor are liquidity, open interest and new partnership disclosures. If tokenization activity accelerates after the raise, Canton’s market role may expand from infrastructure project to institutional settlement layer.
