Wall Street Heavyweights Back Builder of Canton, a Network That Supports $6T Onchain Assets

Digital Asset, the blockchain firm behind the Canton Network (CC), said Thursday that it has secured strategic investments from four major traditional financial players, as Wall Street’s crypto embrace continues.

The investors in this round were BNY, a financial services firm overseeing $57 trillion in client assets, exchange operator Nasdaq, financial intelligence firm S&P Global and iCapital, a fintech firm backed by BlackRock, Blackstone and JP Morgan. The company did not disclose the size of the investment in the press release.

The investment underscores the growing support of legacy financial firms for blockchain infrastructure built specifically 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 features of public blockchains, such as decentralization, with the safeguards required by traditional finance.

“Institutions across the financial ecosystem recognize the necessity of blockchain infrastructure purpose-built for regulated markets,” Yuval Rooz, CEO of Digital Asset, said in a statement. “

The latest investment comes on the heels of Digital Asset’s $135 million funding round in June, which was led by major firms including BNP Paribas, TradeWeb, Goldman Sachs, DRW, and Citadel Securities.

Canton currently boasts $6 trillion of assets onchain with over 600 institutions participating across the ecosystem, the firm said.

Read more: Canton Network Activity Surges as Exchanges Join Validators: Copper Research