Digital Asset raised $300 million in funding at a $2 billion valuation, with a16z crypto leading the round.

A report by Bloomberg on May 11, citing people familiar with the matter, said Canton Network developer Digital Asset Holdings LLC is raising funds at an approximately $2 billion valuation, led by a16z crypto, the cryptocurrency unit of well-known venture capital firm Andreessen Horowitz, for about $300 million in this round, with completion expected within the next few weeks.

Funding Details and Deal Structure

According to Bloomberg’s report citing people familiar with the matter, the target amount for this round is about $300 million. The sources said the final funding amount may change, and the financing is expected to be completed within the next few weeks. Canton Network is a public blockchain that allows users to privacy-protect certain information, positioning itself for mainstream financial transaction scenarios. Institutional backers of Digital Asset Holdings LLC include DRW Holdings LLC and Citadel Securities LLC, among other Wall Street trading firms.

Digital Asset’s Fundraising Track Record and Institutional Ecosystem

Earlier Bloomberg reporting said Digital Asset has completed multiple rounds of fundraising: in June 2025, it raised $135 million in a round led by DRW Venture Capital and Tradeweb Markets; in December 2025, it raised $50 million again from institutions including BNY Mellon, Nasdaq, and S&P Global.

According to Bloomberg, some investors including Tradeweb Markets LLC have been using Canton’s services, or have formed partnerships with Canton’s governance entity, the Global Synchronizer Foundation.

A report published by Copper Research in October 2025 said that over the past decade, Canton Network has been the largest project in the institutional permissioned blockchain ecosystem in terms of scale, and described its growth as showing a “parabolic” trend.

a16z Crypto Developments and Industry Background

According to Bloomberg, Andreessen Horowitz this month completed the fundraising for its latest $2.2 billion cryptocurrency fund, bringing its total capital in the crypto space (covering five funds) to nearly $10 billion.

According to Bloomberg, venture capital deal activity in the cryptocurrency sector has not yet recovered to peak levels, with last month’s crypto fundraising falling to the lowest level since June 2025.

FAQ

What are the valuation and size of Digital Asset’s current fundraising round?

According to a Bloomberg report on May 11, 2026 citing people familiar with the matter, Digital Asset Holdings LLC is raising about $300 million at an approximately $2 billion valuation, led by a16z crypto, expected to be completed within the next few weeks, and the final amount may change.

What is Digital Asset’s prior fundraising history?

According to Bloomberg, Digital Asset completed a $135 million funding round in June 2025 (led by DRW Venture Capital and Tradeweb Markets). Later that year in December, it raised $50 million again from institutions including BNY Mellon, Nasdaq, and S&P Global.

What is a16z’s latest capital scale in the cryptocurrency space?

According to Bloomberg, Andreessen Horowitz this month completed fundraising for its latest $2.2 billion cryptocurrency fund, and the total capital across its five crypto funds is close to $10 billion.