Blockchain developer Digital Asset announced a $135 million funding round led by DRW Venture Capital and Tradeweb Markets. DRW previously founded Digital Asset. Institutional backers in the round include BNP Paribas, Citadel Securities, the DTCC, Goldman Sachs and Virtu Financial. With the launch of the Canton Network, which Digital Asset positions as a public permissionless blockchain, the company has also attracted backing from the decentralized finance space including Circle, Paxos and QCP.
This marks Digital Asset’s first funding round since 2021 when it raised a $120 million Series D from Eldridge and 7RIDGE. At that time, its focus was the Daml smart contract language. Since then its emphasis has shifted to the Canton Network, looking to integrate some of the solutions built using its technology. Current standalone Canton networks include BNP Paribas’ Neobonds, Goldman Sachs’ Digital Assets Platform (GS DAP), HSBC’s Orion and Broadridge’s DLR repo solution that processes $1.5 trillion in transaction volumes monthly.
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