Following the announcement of a $355 million funding round in June, Digital Asset announced that Standard Chartered’s SC Ventures and Shinhan Financial Group have joined the round. Digital Asset is the developer of the public Canton Network, which is one of two networks that will be used by the DTCC in the October rollout of tokenized securities, alongside DTCC’s own private blockchain, with the DTCC publicizing the early transactions last week.
Standard Chartered is the fifth systemically important bank to contribute to the company’s funding over the past 18 months, joining BNY, BNP Paribas, Goldman Sachs and HSBC. Shinhan Financial marks the second major Korean institution, after Hanwha Investment & Securities invested 30 billion won ($20 million) in the main round.
In June Shinhan signed a collaboration deal with the Canton Network, including Shinhan Asset Management and Shinhan Securities. At the time the Korean group cited the potential to distribute Korean assets globally. Korea’s KB Securities has also signed an agreement as part of the same Asian push, but has not invested.
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