Digital Asset Raises $50M from BNY Mellon, Nasdaq, S&P Global, and iCapital

Digital Asset, developer of the Canton Network financial blockchain, closed a $50 million funding round with participation from Bank of New York Mellon, Nasdaq, S&P Global, and iCapital, BlockBeats reports on Dec. 4. The round follows a $135 million raise earlier this year led by DRW Venture Capital and Tradeweb Markets, with participation from market makers including Citadel Securities, IMC, and Optiver. Canton Network is designed to process financial transactions with user-controlled privacy settings and is emerging as a solution for asset tokenization, the process of issuing and transferring traditional assets such as stocks and bonds via blockchain technology.