Digital Asset adds $10M to reach $365M round at $2B valuation

Digital Asset secured $10 million from Shinhan Financial Group and Standard Chartered's SC Ventures, bringing its recent funding round to $365 million and preserving a $2 billion equity valuation, according to a person with direct knowledge of the transaction.

The additional capital follows a $355 million tranche announced last month and was made at the same $2 billion valuation as the earlier close.

The new investors join a syndicate led by a16z crypto and including banks, asset managers and trading firms such as ABN Amro, an Abu Dhabi Investment Authority subsidiary, Apollo Funds, BNP Paribas, Citadel Securities, CME Ventures, Coinbase Ventures, Hanwha Investment & Securities, HSBC, S&P Global and SBI Group.

Digital Asset developed the Canton Network, a Layer 1 public blockchain built to let regulated financial institutions move assets, applications and workflows onchain while retaining privacy, compliance and control required in regulated markets.

Yuval Rooz, co-founder and chief executive of Digital Asset, said the participation of Shinhan and Standard Chartered expands the company's global reach and ecosystem connections.

Seonghun Hong, an investment manager at Shinhan Financial Group, noted Digital Asset's technology aligns with the operational, regulatory and privacy requirements of global institutions and cited opportunities to support onchain infrastructure in South Korea and the wider region.

Canton Network's native CC token traded around $0.13 and rose roughly 2% over the prior 24 hours, giving it a market capitalization near $5 billion.

The company plans to use the funds to continue developing and deploying Canton in regulated settings where banks, asset managers and market infrastructure providers require onchain capabilities that meet existing regulatory and privacy obligations.