Canton Network is a public, permissionless Layer 1 blockchain built with configurable privacy features. Unlike Ethereum or Solana, it offers protocol-level confidentiality guarantees designed specifically for regulated financial institutions.

For a16z crypto, the investment follows the firm closing a $2.2B fifth crypto fund, bringing its total dedicated crypto capital to approximately $10B across five vehicles.

If completed, the raise would be Digital Asset's largest to date and come less than a year after it secured $135 million in June 2025 led by DRW Venture Capital and Tradeweb Markets.