Digital Asset Raises $355M in a16z-Led Round at $2B Valuation

Digital Asset Holdings has raised $355 million in a new funding round led by Andreessen Horowitz's crypto arm (a16z), valuing the company at approximately $2 billion. The raise, reported June 11, 2026 by Bloomberg Law citing people familiar with the matter, extends a multiyear run of Wall Street-backed funding into permissioned blockchain infrastructure.

Who Invested and Why It Matters

a16z crypto contributed $100 million to the round. Co-investors include 7RIDGE, the Abu Dhabi Investment Authority (ADIA), Citadel Securities, and Optiver. The investor composition is notable: ADIA represents sovereign capital from the Gulf, while Citadel Securities and Optiver are among the largest electronic market makers in the world. These are not speculative crypto allocations — they are infrastructure bets from institutional operators who need the underlying rails to function reliably at scale.

The capital will be directed toward scaling the Canton Network, the privacy-preserving permissioned blockchain platform designed for financial institutions to tokenize and settle traditional securities. Canton has been piloted by Goldman Sachs, BNY Mellon, BNP Paribas, Standard Chartered, Société Générale, and Deutsche Börse.

Canton Network: The Institutional Settlement Layer

Canton Network is built on a privacy-by-default architecture. Unlike public chains, Canton keeps transaction details — counterparties, amounts, asset types — private between participants while still enabling cross-party settlement coordination. This is the compliance requirement that has kept many regulated institutions from adopting public blockchain rails: they cannot put customer trade data on a transparent ledger.

Digital Asset's CEO Yuval Rooz described the raise in a post-announcement statement as the culmination of nearly 12 years of building, including periods of failure and course correction. "We knew institutional adoption was the path," Rooz wrote. "We failed. We made bad decisions… But we never let go of our North Star."

A Funding Stack Built From Wall Street Participation

The June 2026 raise extends a run that began in earnest in 2025. In June 2025, Digital Asset secured $135 million from DRW Venture Capital, Tradeweb, Citadel Securities, IMC, Optiver, Goldman Sachs, Virtu, and others. That was followed by a $50 million strategic round in December 2025 from BNY Mellon, Nasdaq, S&P Global, and iCapital. The 2026 round brings cumulative institutional capital into the hundreds of millions, establishing Digital Asset as one of the most heavily backed private infrastructure companies in institutional DLT.

Earlier investors include JPMorgan, Citi, Deutsche Börse, Goldman Sachs, IBM, Samsung, and Salesforce — providing Canton with direct connectivity into the institutions it is trying to serve as a settlement layer.

Signal for the Broader Tokenization Market

The raise lands as institutional tokenization infrastructure consolidates around a small number of platforms. DTCC has confirmed Ripple's participation in its July 2026 tokenization launch alongside BlackRock, Goldman Sachs, and JPMorgan. Digital Asset's Canton sits adjacent to that infrastructure — it is the layer where institutional counterparties can execute and settle tokenized security transactions while maintaining the privacy controls required by compliance and legal teams.

For builders in the tokenization space, the Canton investment signals that Wall Street is choosing its infrastructure partners now. The window for deliberate infrastructure selection — rather than reactive adoption — is narrowing as major institutions commit to specific platforms.