Trading firm DRW Holdings and venture capital firm Liberty City Ventures are reportedly seeking to raise approximately $500 million for a publicly listed digital asset treasury. This treasury is intended to hold the Canton Network’s native token, Canton Coin.
According to a report from Bloomberg, which cited unnamed sources, DRW Holdings and Liberty City Ventures are expected to contribute the majority of these funds using Canton Coin (CC). External investors are anticipated to contribute between $100 million and $200 million. The specifics of the deal are subject to change, as the sources indicated that the transaction has not yet been finalized.
DRW Holdings, based in Chicago, is a diversified trading firm active across a broad spectrum of asset classes. Liberty City Ventures, headquartered in New York, maintains a stronger focus on the cryptocurrency market, Web3, and artificial intelligence. Both firms are known backers of the Canton Network.
Recent Developments and Partnerships
This news emerges shortly after another significant development concerning the Canton Network. Digital asset technology company BitGo and the Canton Network recently announced a partnership that will integrate custody support for Canton Coin (CC) within BitGo's services. This collaboration is designed to offer banks and asset managers a regulatory-compliant pathway to access the Canton Network and its native CC token. It also introduces features such as cold-storage custody, insurance-backed security, and potential for ecosystem expansion through stablecoins and other on-chain assets.
In other recent news for the project, the Canton Network has onboarded two prominent validators: P2P.org and Chainlink. Chainlink has joined as a “super validator” and is integrating its data services and cross-chain interoperability protocol into the network.
About the Canton Network
The Canton Network is a blockchain platform specifically engineered for compliant institutional trading. It facilitates interoperability between financial applications and tokenized assets. The network boasts a strong list of backers, including major banks, technology companies, and exchanges. In addition to DRW Holdings and Liberty City Ventures, its supporters include Digital Asset, HSBC, BNP Paribas, the CBOE, Goldman Sachs, Deutsche Bank, and Paxos.