Digital Asset Holdings is raising new capital at an estimated $2bn valuation, Bloomberg reported, citing people with knowledge of the matter.
Andreessen Horowitz’s a16z crypto is leading the financing, which is expected to total about $300m.
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The round is expected to close in the coming weeks, though the final amount could change.
Founded in 2014, Digital Asset develops software for financial services firms focused on blockchain and distributed ledger technology. The company works with large institutions, including banks and exchanges, to automate transactions and improve trade settlement processes.
Its Canton Network is a public blockchain that allows some transaction information to remain private. Digital Asset is backed by Wall Street banks and trading firms including DRW Holdings and Citadel Securities, Bloomberg added.
In March, Visa joined the Canton Network as a super validator. The move brought Visa into a group of 40 super validators tasked with helping to maintain and secure operations on the network.
Digital Asset raised $50m late last year from investors including Bank of New York Mellon Corp. and Nasdaq.
Some existing investors, including Tradeweb Markets, have used the Canton Network or have participated in its governance through the Global Synchronizer Foundation.
Andreessen Horowitz has also raised $2.2bn for its newest crypto fund, bringing its total crypto-focused capital to just under $10bn across five funds.
Bloomberg cited an estimate showing crypto venture investment fell last month to its lowest level since June 2025.
Some firms that have historically backed digital-asset startups have been shifting attention to other sectors, including AI and robotics.
