Digital Asset, the company behind the institutional finance-focused Canton (CC) blockchain, has raised an additional $10 million from Shinhan Financial Group and SC Ventures, the venture arm of Standard Chartered, according to sources familiar with the matter. The funding round values the company at an unchanged $2 billion, bringing its total capital raised to $365 million.
New Capital and Continued Institutional Interest
The latest investment signals sustained confidence from traditional financial institutions in Digital Asset’s approach to blockchain technology. Canton is designed specifically for regulated financial markets, aiming to enable secure and private transactions among banks, asset managers, and other institutions. The fresh capital will likely be used to further develop the network’s capabilities and expand its user base.
Strategic Backers Deepen Involvement
Shinhan Financial Group, one of South Korea’s largest financial conglomerates, and SC Ventures, the innovation and ventures unit of Standard Chartered, are not new to Digital Asset. Both have previously participated in earlier funding rounds, and their continued support underscores the long-term strategic value they see in the Canton network. The involvement of major Asian and global banking groups highlights the growing traction of permissioned blockchain solutions in the institutional sector.
Why This Matters for Institutional Blockchain
The funding arrives at a time when the broader crypto market faces regulatory scrutiny and volatility, yet institutional blockchain projects continue to attract significant investment. Digital Asset’s focus on compliance, privacy, and interoperability with existing financial infrastructure positions it as a key player in the tokenization of real-world assets and the modernization of settlement systems. For readers, this development reinforces that while public cryptocurrency markets fluctuate, the underlying technology is steadily being integrated into mainstream finance.
Conclusion
Digital Asset’s latest $10 million raise, backed by Shinhan Financial Group and SC Ventures, brings its total funding to $365 million and maintains its $2 billion valuation. The investment reflects ongoing institutional demand for purpose-built blockchain infrastructure and provides the company with additional resources to advance its Canton platform.
FAQs
Q1: What is the Canton blockchain?
A: Canton is a blockchain network developed by Digital Asset, designed specifically for institutional financial applications. It focuses on privacy, scalability, and regulatory compliance to enable secure transactions among banks and other financial entities.
Q2: Who are the investors in this round?
A: The $10 million round was led by Shinhan Financial Group, a major South Korean financial conglomerate, and SC Ventures, the venture arm of Standard Chartered.
Q3: How much total funding has Digital Asset raised?
A: With this latest round, Digital Asset has raised a total of $365 million. The company’s valuation remains at $2 billion.
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