Digital Asset raises $355 million in a16z-led round at $2 billion valuation

Digital Asset has raised $355 million in a funding round led by Andreessen Horowitz, with the company now valued at $2 billion. The fresh capital comes as banks continue testing applications on its Canton Network blockchain.

The round adds to a longer pattern of Wall Street support for Digital Asset and highlights continued interest in blockchain infrastructure built for financial institutions. It also signals that major investors and banks are still backing efforts to bring more market activity onto enterprise-focused blockchain rails.

Digital Asset's Canton Network has been used in ongoing pilots by banks, reflecting a broader push to connect traditional finance with blockchain-based systems. Those pilots suggest that institutions are still exploring ways to use distributed ledger technology for regulated financial workflows.

Andreessen Horowitz's participation in the round underscores renewed venture backing for infrastructure companies serving the banking sector. The valuation also places Digital Asset among the more highly valued companies working on blockchain rails for institutional use.

For the crypto ecosystem, the raise is another sign that enterprise blockchain remains a live area of investment even as the market continues to evolve. The company's progress will likely be watched closely by firms tracking institutional adoption of blockchain technology.