Canton Weekly News — Company Behind Canton Raises $355M

Digital Asset, the company that builds Canton, closed a $355M round led by a16z crypto at a $2B valuation, with HSBC, BNP Paribas, Citadel Securities, and over two dozen other institutions joining. The Foundation approved Token Standard V2 and began rolling out Protocol 35. USDCx, a Canton-native stablecoin, went live for retail trading on Kraken.

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Digital Asset raises $355M led by a16z, valuing the company near $2B. Digital Asset, the company that builds the Canton Network, raised $355 million in a round led by a16z crypto at a roughly $2 billion valuation. What makes this notable is not the size but the cap table: the round drew banks, market makers, exchanges and asset managers all at once, including ABN Amro, the Abu Dhabi Investment Authority, Apollo, BNP Paribas, Broadridge, Citadel Securities, CME Ventures, Coinbase Ventures, HSBC, S&P Global, SoFi and Tradeweb. a16z partners Ali Yahya and Nathan Levine published their reasoning the same day, arguing that the three historic barriers to institutional crypto (performance, regulatory clarity and privacy) have largely fallen, and pointing to live workloads as proof: DTCC tokenizing U.S. Treasuries, Broadridge running more than $400 billion in daily repo volume, and JPMorgan migrating its tokenized deposit work onto Canton. The money funds the next phase of bringing regulated markets on-chain. CoinDesk · The Block

Canton approves Token Standard V2, its biggest asset-handling upgrade yet. The Canton Foundation approved CIP-0112, a version 2 of the token standard that governs how assets are issued, transferred and settled across the network. V2 brings improvements to privacy, performance and compatibility, the three things institutions weigh hardest before tokenizing real assets. Because every app that issues a token on Canton leans on this standard, the upgrade quietly resets the baseline for everything built on top. The change went through Canton's on-chain governance process rather than a unilateral developer push. Canton Foundation

USDCx, a Canton-based stablecoin, goes live for trading on Kraken. USDCx, a stablecoin that lives on the Canton Network, is now listed and tradable on Kraken, one of the larger U.S. exchanges. The listing matters because it gives a Canton-native asset a public, retail-accessible on-ramp rather than keeping it inside institutional pilots. It is an early sign that assets minted on Canton's privacy-preserving infrastructure can reach mainstream exchange liquidity. Kraken Listings · Canton Network

Protocol 35 is Canton's largest network upgrade to date. The Canton Foundation announced on June 13 that Protocol 35 is now rolling out, accompanied by a tally of more than 117 governance proposals approved to date covering validator weights, token standards, app rewards and locking rules. Protocol upgrades on Canton happen incrementally through on-chain governance rather than coordinated mainnet relaunches, so a rollout like this is the closest analog Canton has to a major version release. For institutional builders, the meaningful detail is the cumulative count: the network now has a multi-year governance trail of formally approved changes, which is what compliance teams want to see before committing. Canton Foundation

Zenith brings Ethereum apps to Canton without leaving the network. Zenith is a project connecting Ethereum's EVM developer ecosystem to Canton's institutional infrastructure, letting Ethereum-style apps run while settling through Canton. The economic design is the interesting part: every EVM transaction on Zenith routes through Canton's Global Synchronizer, the shared public messaging layer that Super Validators operate, as native network activity. That means the transaction consumes Canton network capacity and feeds Canton's burn-and-mint loop, so the economic value of that activity stays inside Canton rather than leaking out to another chain. For an institutional audience, it is a template for how outside developer ecosystems can plug into Canton without diluting it. Zenith · Canton Network

Apps on Canton

Dedge Security spotlighted as an ecosystem member. The Canton Foundation spotlighted Dedge Security, a security-posture management platform built specifically for digital-asset infrastructure. Dedge covers continuous checks from code commit all the way through on-chain deployment, the kind of tooling institutions expect before they trust a network with regulated assets. Its inclusion signals that Canton's ecosystem is maturing past core protocol work into the security and compliance layer that surrounds it. Canton Foundation

Quick Hits

• Temple's central limit orderbook produced 31.5% of all Canton Network daily token burn on June 11, a striking concentration of on-chain activity in a single trading app. Canton Foundation
• “Winning With Stablecoins,” a webinar on June 16, pairs Digital Asset with BitGo, Visa and LayerZero to walk through always-on treasury and putting corporate cash to work 24/7. Digital Asset
• Fireblocks and Canton Network host a June 30 session breaking down the infrastructure behind tokenized assets, from composable access to faster settlement. Canton Network

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