Digital Asset Holdings, the enterprise-grade blockchain company behind Canton Network, a privacy-focused permissioned blockchain network for financial institutions, is reportedly raising new capital at a valuation of $2 billion. The company is reportedly raising new capital at a valuation of $2 billion.

According to Bloomberg, citing sources familiar with the matter, the $300 million funding round was led by venture capital firm a16z crypto and is expected to close within weeks.

This news comes less than a year after the digital asset company announced it had raised $135 million in a strategic funding round led by DRW Venture Capital and Tradeweb Markets. A company spokesperson did not respond to Cointelegraph's request for comment via email on Sunday.

In December of last year, digital asset company Canton Network and Depository Trust & Clearing Corporation (DTCC) announced a partnership to promote the tokenization of DTCC-custodied assets on Canton Network.

Canton Network topology. Source: Canton Network White Paper

Last week, DTCC announced plans to pilot trading of tokenized versions of some of the $114 trillion in liquid assets it holds in custody starting in July, with the goal of fully launching the service in October.

Financial institutions are connecting to or testing Canton Network.

Despite mixed reactions from the crypto community regarding its role in the blockchain ecosystem and its degree of decentralization, Canton Network continues to connect with global financial institutions, banks, and government entities.

In March of this year, financial rating agency Moody's deployed its rating data to the network, enabling financial institutions to use this data directly in blockchain workflows. According to the agency's announcement, this made it the first credit rating agency to publish data on-chain.

In April of this year, Japan Securities Clearing Corporation (JSCC) – an institution that provides financial clearing and settlement services for stocks, commodities and derivatives – announced that it was testing on-chain government bonds.

More specifically, JSCC is testing whether ownership of Japanese government bonds can be transferred on-chain and used as digital collateral.

Canton Coin price movement since December 2025. Source: CoinMarketCap

Earlier this month, Swiss crypto bank Amina announced that it would provide custody and trading support for Canton Network's utility token, Canton Coin.

According to the crypto bank's announcement, Amina is the first Swiss Financial Market Supervisory Authority (FINMA)-regulated bank to announce support for the Canton token.