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Digital Asset in Talks to Raise $300 Million at $2 Billion Valuation Led by a16z Crypto

The potential deal signals fresh conviction in privacy-first rails for banks despite a slower crypto funding cycle.

Canton Network
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Overview

  • Digital Asset Holdings is reportedly negotiating a roughly $300 million round at about a $2 billion valuation, with a16z crypto set to lead and terms still subject to change.
  • Canton Network, built by Digital Asset, lets institutions turn traditional assets into digital tokens and share only the transaction details each party needs.
  • Recent traction includes Visa joining as a Canton Super Validator and adding the network to its stablecoin settlement pilot, with reports citing more than $6 trillion processed on Canton.
  • The company last raised $135 million in June 2025 and $50 million in December 2025, drawing backers such as DRW, Tradeweb, Goldman Sachs, Citadel Securities, DTCC, BNY Mellon, Nasdaq, S&P Global, and iCapital.
  • Crypto venture activity has cooled and a16z crypto is raising a fifth fund with a smaller target than its 2023 vehicle, making this reported round a notable bet on institutional tokenization.