Goldman Sachs, Citiadel Securities join $135M funding round for Digital Asset

Crypto company Digital Asset raised $135M in a funding round led by DRW Venture Capital and Tradeweb Markets (NASDAQ:TW), the company said on Tuesday.

Goldman Sachs (NYSE:GS), Citadel Securities, BNP Paribas (OTCQX:BNPQF) (OTCQX:BNPQY), Virtu Financial (NYSE:VIRT), Circle Ventures, The Depository Trust & Clearing Corp., Liberty City Ventures, Optiver, Paxos, Polychain Capital, QCP, Republic Digital, and 7RIDGE participated in the funding round.

The capital raised will help expand the Canton Network, a permissionless Layer-1 blockchain built for institutional financial that combines privacy, compliance, and scalability. Digital Asset built and operates Canton in partnership with global financial institutions and technology provider, by integrating hundreds of billions of real-world assets into the network. Such assets include bonds, money market funds, alternative funds, commodities, repurchase agreements, mortgages, life insurance, and annuities.

“Canton is already actively supporting numerous asset classes–from bonds to alternative funds–and this raise will accelerate onboarding even more real-world assets, finally making blockchain’s transformative promise an institutional-scale reality,” said Digital Asset co-founder and CEO Yuval Rooz.

Digital Asset says Canton is the only network built from the ground up with configurable on-chain privacy. The ability for institutions to tailor privacy settings allows Canton to address the conflict between transparency and financial confidentiality, it said.

“Goldman Sachs remains committed to accelerating the adoption of digital assets and a blockchain-powered financial system.” said Matthew McDermott, global head of digital assets at Goldman Sachs (NYSE:GS). “We are pleased to participate in their latest funding round and to continue to support them as a critical player in the institutional digital asset ecosystem.”