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

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Digital Asset, the blockchain firm behind the Canton Network (CC), announced 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 highlights the increasing support of legacy financial firms for blockchain infrastructure built specifically for regulated markets. The Canton Network was created 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 necessary safeguards required by traditional finance.

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

This latest investment follows 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.

The Canton Network continues to see an increase in activity as exchanges join validators, according to Copper Research.

Overall, the investment from these traditional financial players further validates the importance of blockchain technology in regulated markets and demonstrates the growing support from Wall Street for crypto-related ventures. The Canton Network’s innovative approach to tokenizing real-world assets while ensuring compliance with legal requirements positions it as a key player in the evolving landscape of blockchain finance.