A16z pours $355M into Digital Asset as blockchain infrastructure for finance gains momentum
In a round spearheaded by a16z, Digital Asset secured $355M at a $2B valuation, continuing its streak of institutional backing as financial institutions accelerate Canton Network blockchain trials.
Digital Asset Holdings has successfully closed a $355 million funding round spearheaded by the cryptocurrency division of Andreessen Horowitz, underscoring the financial industry's growing commitment to permissioned blockchain technology infrastructure.
The cryptocurrency arm of A16z injected $100 million into the round, joined by 7RIDGE, the Abu Dhabi Investment Authority, Citadel Securities and Optiver, in a transaction that positions Digital Asset's worth at approximately $2 billion, based on a Thursday report from Bloomberg Law that cited sources with knowledge of the transaction.
The funding injection will support the expansion of the Canton Network, which is developed and maintained by Digital Asset, and is specifically engineered to enable financial institutions to tokenize and settle conventional securities while preserving the privacy of commercially sensitive information.
Canton has already undergone pilot testing by major financial institutions including Goldman Sachs, BNY Mellon, BNP Paribas, Standard Chartered, Société Générale and Deutsche Börse.
In the previous month, Bloomberg disclosed that Digital Asset had originally targeted approximately $300 million at that same valuation and anticipated completing the fundraising process in the coming weeks.
"We knew institutional adoption was the path," cofounder and chief executive of Digital Asset, Yuval Rooz, wrote on X after the raise was announced, reflecting on Digital Asset's nearly 12‑year journey from DRW spin‑out to Canton Network. "We failed. We made bad decisions… But we never let go of our North Star."
Raise builds on a multiyear funding stack for Digital Asset
This most recent capital raise continues a series of Wall Street-supported financing rounds for Digital Asset. During June 2025, the organization raised $135 million from DRW Venture Capital, Tradeweb, Citadel Securities, IMC, Optiver, Goldman Sachs, Virtu and additional investors, which was subsequently followed by a $50 million strategic investment round in December from BNY Mellon, Nasdaq, S&P Global and iCapital.
These funding rounds supplemented over $120 million that was raised during 2021 from backers that included 7RIDGE and Eldridge, building upon previous capital injections from JPMorgan, Citi, Deutsche Börse, Goldman Sachs, IBM, Samsung and Salesforce.
Cointelegraph reached out to Digital Asset for comment, but had not received a response by publication.