Canton Weekly News: Digital Asset extends its funding round to $365 million

Digital Asset's funding round grew to $365 million this week, with Shinhan and Standard Chartered buying in at an unchanged $2 billion valuation. Lower down the stack, the Canton Coin that apps have to lock up to stay Featured is starting to squeeze the smaller ones.

Canton Activity Metrics

Funding & Deals

Two more banks join Digital Asset's funding round, which now totals $365 million. Shinhan Financial Group and Standard Chartered's venture arm SC Ventures put another $10 million into Digital Asset, the company that builds Canton, taking the round to $365 million. The price did not move: still a $2 billion valuation, the same as when a16z crypto led the $355 million round last month. The Block

Premia, an institutional trading and custody firm, buys Raven Market and closes its consumer app. Premia bought Raven Market, a platform for trading derivatives built on Canton, and paid entirely in cash. CantonNews reports the deal brings Premia 38 institutional clients with more than $127 million in assets, and the version of Raven that ordinary users could access is being shut down. Canton News

Tokenomics

Canton has burned 4.3 billion CC since it launched. About 4.3 billion CC, worth more than $500 million, has been burned since mid-2024, meaning permanently removed from the supply. Fees paid to use the network burn coins while the protocol mints new ones as rewards, and CantonNews reports the daily burn rate is speeding up. CantonNews

Protocol

A month later, some validators still cannot restart after Canton's June upgrade. Canton's pitch for these upgrades is that the network keeps running the whole time, with no pause for anyone, unlike the hours-long halts other blockchains need. A month after June's update to Splice 0.6.7, the software every validator runs, operators who missed the June 27 deadline are still posting to the forum about servers that will not restart. Canton Network Forum

Apps on Canton

A featured app is selling itself because of Canton's coin lock-up rule. To keep Featured App status, and the share of network rewards that comes with it, an app now has to hold Canton Coin in a locked contract: 5 million CC for most apps, 25 million for anyone issuing assets. This week the wallet app Askardex put itself up for sale, and its founder named the loan it took to cover that locked coin as part of the reason. Canton Network Forum

Quick Hits

• Canton Network said the DTCC tokenization platform reaches its first working version in the third quarter of 2026, alongside a ValueExchange report on the tokenized Treasury trades that ran in 2025. Canton Network
• Canton Strategic Holdings, the Nasdaq-listed company that holds Canton Coin, sold its biotech arm Gravitas Life Sciences for a $3.5 million promissory note at 15 percent interest, completing its conversion into a pure Canton business. Canton Strategic Holdings
• The Canton Foundation published Quickstart, a ready-made local setup that takes a developer from a clean machine to a first transaction without assembling the stack by hand. Canton Network Quickstart
• Cantor8, a Build On Canton hackathon, is set for August 29 with the Imperial, Oxford and Cambridge blockchain societies. Cantor8 on X
• Two apps shipped upgrades: OneSwap released version 2, and the payments app Loop can now be run by several parties at once instead of a single operator. Canton Network Forum

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