Digital Asset, a crypto company, announced on Tuesday that it has secured $135 million in funding from major players in the banking and finance industry. The funding round was co-led by DRW and Tradeweb, with notable investors including Goldman Sachs, BNP Paribas, and Citadel Securities.
This investment showcases the growing involvement of large financial institutions in the cryptocurrency space. Once associated with illicit activities, digital assets have now gained mainstream acceptance as prominent names like JPMorgan Chase, Goldman Sachs, and Morgan Stanley have embraced the sector. JPMorgan recently launched its own stablecoin called “JPMD.”
Digital Asset, founded in 2014 by CEO Yuval Rooz, offers various digital asset services to clients such as Goldman Sachs, Citadel, and Virtu. The company competes with other players like Ripple, R3, and Consensys in the market. The funding will be used to further develop the Canton Network, an open-source public blockchain designed for financial institutions to securely transfer assets and data while adhering to regulatory standards.
Financial institutions and trading firms are leveraging the Canton Network to tokenize real-world assets like bonds, commodities, and money market funds. Rooz expressed his excitement about advancing the network and onboarding more high-quality assets to make blockchain technology a widespread reality in the institutional space. The Canton Network currently supports trillions of dollars in tokenized assets.
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