By Katherine Doherty and Ryan Weeks | Updated on Jun 11, 2026 at 11:00 AM
Blockchain builder Digital Asset Holdings LLC raised $355 million in a new funding round led by Andreessen Horowitz’s main crypto fund, as Wall Street accelerates its focus on using the technology underlying cryptocurrencies to handle traditional assets.
Horowitz’s a16z crypto contributed $100 million to the total, in addition to funds from firms including 7RIDGE, the Abu Dhabi Investment Authority, and market-makers Citadel Securities and Optiver, according to executives.
Digital Asset created the Canton Network, a public blockchain that allows users to keep some information private, a feature touted as making it well-suited for mainstream financial transactions. The company is backed by Wall Street banks, including BNP Paribas and HSBC Holdings, which also participated in the recent round.
“They are the team that has done the best job at understanding what institutional customers actually want,” Ali Yahya, general partner at a16z, said in an interview. The traction Digital Asset has gotten with big banks and large investment firms convinced a16z that it will be more successful than other blockchain projects, he said.
The fundraising will hand Digital Asset a $2.4 billion post-money valuation, according to people familiar with the matter who asked not to be identified discussing private details.
Founded over a decade ago, Digital Asset was among the first blockchain startups to secure backing from major financial institutions and work with them in testing its distributed ledger.
“It brings privacy and compliance to the table, while it preserves some of the core benefits that blockchains bring to the table as a technology,” a16z’s Yahya said.
The firm raised $50 million late last year from backers including Bank of New York Mellon Corp. and Nasdaq Inc., Bloomberg reported at the time. Earlier in 2025, it raised $135 million in a round led by Don Wilson’s DRW Venture Capital and Tradeweb Markets.
Several investors in the latest round, including Tradeweb, have been using Canton or are involved with its governing entity, the Global Synchronizer Foundation.
Digital Asset is “fundamental to building new capabilities, by bringing together the right participants, and the right technology,” said Chris Bruner, Tradeweb’s chief product officer.
Andreessen Horowitz, for its part, last month raised $2.2 billion for its latest crypto fund. Its total capital dedicated to the sector is now almost $10 billion across five funds. Smaller firms have struggled to attract commitments, with cryptocurrency prices still far below their 2025 highs.