Digital Asset Holdings, the company behind the Canton Network blockchain used by several major banks and trading firms, is seeking $300 million from investors including Andreessen Horowitz’s a16z crypto at a roughly $2 billion valuation, according to Bloomberg.
The funding round is expected to close in the next few weeks, and the amount raised could vary, people familiar with the matter told Bloomberg.
The sources said investment banking company FT Partners is consulting Digital Asset on the funding round.
Digital Asset Holding, Canton Network and a16z crypto did not respond to a CoinDesk request for comment and confirmation.
The Canton Network is a privacy-enabled blockchain infrastructure whose purpose is to connect financial institutions and their tokenized assets across interoperable, permissioned applications.
In February, it revealed that a group of global financial firms completed the first cross-border, intraday repurchase agreement using tokenized British government bonds on its blockchain. The transaction was the first time digital versions of gilts, a $2 trillion market, had been used in an intraday repo across borders.
Digital Asset received backing estimated at about $50 million in late 2025 from investors, including Bank of New York Mellon and Nasdaq. Existing backers also include DRW and Citadel Securities.
For Andreessen Horowitz, participation in this fundraising round could be its first since raising $2.2 billion a week ago for its latest crypto fund, taking its total capital dedicated to the sector to just shy of $10 billion across five funds.