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Digital Asset Raises $135 Million to Bolster Canton Network Blockchain
- Digital Asset has secured $135 million in funding to enhance the adoption of its Canton Network blockchain.
- The funding round was led by DRW Venture Capital and Tradeweb Markets, with participation from investors such as Goldman Sachs.
- The Canton Network offers configurable privacy and institutional-grade compliance at scale.
- The capital will facilitate the integration of real-world assets onto Canton and strengthen relationships with existing companies in the network.
- Digital Asset's CEO mentioned that the funding validates the vision of a privacy-enabled public blockchain for institutional adoption.
- Canton Network already supports various asset classes, and the funding will accelerate onboarding more real-world assets.
- An earlier pilot of Canton Network demonstrated the interoperability of distributed ledger applications in capital markets.
- The pilot highlighted the ability of blockchain technology to maintain privacy and regulatory controls for institutions.
- Digital Asset aims to enable financial systems to connect and synchronize in new ways while adhering to regulatory requirements.
- In related blockchain news, companies are exploring custody solutions for corporate bitcoin treasuries.
- Insurance for digital assets is still evolving, prompting firms to consider innovative custody arrangements and programmable insurance contracts.
- Some companies are awaiting clearer regulations before diving into digital asset custody.
- Ensuring the secure storage of bitcoin demands technical expertise, robust infrastructure, and stringent internal controls.
- Companies venturing into bitcoin custody may need to adopt a banking-like model, requiring significant operational changes.
- The article was originally published on PYMNTS.com.
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