Digital Asset Holdings Seeks $300 Million at $2 Billion Valuation

Digital Asset Holdings is seeking about $300 million at a roughly $2 billion valuation in a funding round that includes participation from a16z crypto, according to Bloomberg. The company, which developed the Canton Network blockchain used by major financial institutions, has engaged investment bank FT Partners to advise on the transaction.

Sources familiar with the matter told Bloomberg the fundraiser is expected to close in the coming weeks and the final amount might vary. The funding round follows an estimated $50 million strategic investment the company received in late 2025 from firms including Bank of New York Mellon and Nasdaq, alongside existing backers DRW and Citadel Securities.

Digital Asset Holdings, Canton Network and a16z crypto did not respond to a CoinDesk request for comment.

The Canton Network is a privacy-enabled blockchain infrastructure designed to connect financial institutions and their tokenized assets across interoperable, permissioned applications. In February the network facilitated the first cross-border intraday repurchase agreement using tokenized U.K. gilts.

The transaction marked the first time digital versions of gilts from the $2 trillion market had been used in an intraday repo across borders. For Andreessen Horowitz, participation in the round could mark its first investment since raising $2.2 billion a week ago for its latest crypto fund.

That fund brought the firm's total capital dedicated to the sector to just under $10 billion across five funds.