According to CoinDesk, Canton Network developer, Digital Asset, has completed a Series B funding round worth $355 million, led by a16z crypto, with participation from global institutional investors, including ABN Amro, Apollo Funds, BNP Paribas, Citadel Securities, HSBC, and SBI Group. The funding round exceeded the initial target of $300 million, valuing the company at $2 billion.

Canton Network is designed for large financial institutions to issue and trade real-world assets tokenized such as bonds, loans, and funds on the same ledger, while still meeting privacy and compliance requirements. a16z crypto will support development, policy, and research beyond the capital.