Canton developer Digital Asset raises additional $10 million at same $2 billion equity valuation

Digital Asset, the developer of the Canton blockchain network, has raised an additional $10 million from South Korea's Shinhan Financial Group and Standard Chartered's SC Ventures, a source with direct knowledge of the matter told The Block.

The new investment increases the total size of the company's recent funding round to $365 million, up from $355 million, the source said. The investment was made at the same $2 billion equity valuation as the previous funding round, the source added.

Digital Asset announced the $355 million raise last month, which was led by Andreessen Horowitz's crypto fund, a16z crypto, with participation from leading institutions across traditional and decentralized finance, including ABN Amro, the Abu Dhabi Investment Authority (through a wholly owned subsidiary), Apollo Funds, BNP Paribas, Citadel Securities, CME Ventures, Coinbase Ventures, Hanwha Investment & Securities, HSBC, S&P Global and SBI Group.

"The addition of Shinhan Financial Group and Standard Chartered to our investor base brings further global reach, market expertise, and ecosystem connectivity at an important moment for both Digital Asset and Canton," said Yuval Rooz, co-founder and CEO of Digital Asset. "Their participation reinforces the need for infrastructure that enables regulated financial institutions to operate on shared networks without compromising privacy, compliance, or control."

Digital Asset developed the Canton Network, a public Layer 1 blockchain designed for regulated financial institutions. The network allows institutions to bring assets, applications, and financial workflows onchain while maintaining the privacy, compliance, and control required in regulated markets.

"Digital Asset has built infrastructure that aligns with the operational, regulatory, and privacy requirements of global financial institutions," said Seonghun Hong, investment manager at Shinhan Financial Group. "As institutional interest in digital assets continues to grow across Asia, we see significant opportunity to support the development of trusted onchain financial infrastructure in South Korea and the broader region."

Canton Network's native CC token was trading at around $0.13, up about 2% over the past 24 hours, giving it a market capitalization of nearly $5 billion, according to The Block's Canton price page.

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