Digital Asset has raised its recent funding round to $365 million by securing an additional $10 million from Shinhan Financial Group and Standard Chartered’s SC Ventures. This move not only boosts the company’s capital but also deepens its institutional backing for the Canton blockchain network, a platform designed specifically for regulated financial institutions and developers.
Initially announced at $355 million last month, the oversubscribed round was led by Andreessen Horowitz’s a16z crypto fund, attracting a roster of heavyweight investors including ABN Amro, the Abu Dhabi Investment Authority, Apollo Funds, BNP Paribas, Citadel Securities, CME Ventures, Coinbase Ventures, Hanwha Investment & Securities, HSBC, S&P Global, and SBI Group. The new additions further widen the global footprint, especially enhancing Asian market connections.
Institutional Momentum and Strategic Geographic Expansion
The entrance of Shinhan Financial Group, South Korea’s largest banking institution, and SC Ventures, Standard Chartered’s innovation arm, signals growing confidence among major financial players in Canton’s potential. Shinhan’s involvement is strategically important as it brings a strong voice in Korea’s institutional blockchain discussions, complementing Digital Asset’s recent partnership with Hanwha. Meanwhile, SC Ventures contributes expertise in global banking innovation, aligning with Digital Asset’s ambition to scale regulated digital finance.
Digital Asset values this as a critical moment when blockchain adoption is transitioning from experimental pilots to production-ready infrastructure. CEO Yuval Rooz emphasizes that the platform enables regulated entities to collaborate on shared blockchains without compromising privacy, compliance, or operational control. This capability addresses one of the main hurdles preventing broader blockchain integration in traditional finance.
Maintaining a $2 billion valuation from the previous tranche, the funding round shows investor confidence despite the broader crypto market’s volatility. The backing by established financial institutions beyond traditional crypto investors suggests an evolving landscape where blockchain technology is increasingly embraced for regulatory-compliant applications.
This development also feeds into a growing narrative around institutional-grade alternatives in blockchain assets, as highlighted by recent moves like Bithumb’s listing of Canton and Grayscale’s proposal for a spot Canton Coin ETF. These signals could shift market dynamics by making blockchain solutions more accessible and trusted among regulated entities.
This material is informational and does not constitute financial advice.
