Digital Asset, the blockchain company behind Canton Network (CC), announced on Thursday that it has secured strategic investments from four traditional financial giants as Wall Street’s support for cryptocurrencies continues.
Investors in the round include financial services firm BNY, which manages $57 trillion in customer assets, exchange operator Nasdaq, financial information firm S&P Global, and fintech firm iCapital, which is backed by BlackRock, Blackstone, and JP Morgan. The company did not disclose the size of the investment in its press release.
This investment confirms the growing support from traditional financial companies for blockchain infrastructure purpose-built for regulated markets. The Canton Network was designed to enable institutions to issue and trade tokenized real-world assets such as bonds, loans, and funds on a shared ledger while maintaining privacy and compliance with legal requirements. It combines the features of public blockchains, such as decentralization, with the protections required by traditional finance.
“Institutions across the financial ecosystem are recognizing the need for blockchain infrastructure purpose-built for regulated markets,” Digital Asset CEO Yuval Roos said in a statement. ”
The investment follows Digital Asset’s $135 million funding round in June led by leading firms including BNP Paribas, Tradeweb, Goldman Sachs, DRW and Citadel Securities.
Canton currently boasts $6 trillion in assets on-chain with over 600 participating institutions across its ecosystem, the company said.
Read more: State network activity surges as exchanges join validators: Copper study
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
