Two financial institutions – DRW Holdings and Liberty City Ventures – are planning to raise around $500 million to establish a publicly listed digital asset fund, using Canton Coin (CC) – the native cryptocurrency of Canton Network.
According to Bloomberg, the majority of the Capital will come from DRW and Liberty City Ventures in the form of Canton Coin contributions, while outside investors are expected to contribute around $100 million to $200 million. However, the terms of the deal could still change as the deal has not been finalized.
Canton Network – blockchain platform for institutional finance
Canton Network is a blockchain infrastructure for regulatory-compliant financial transactions that enables financial institutions to connect and interact across various digital assets and applications. The project is backed by a host of big names in finance and technology, including HSBC, Goldman Sachs, BNP Paribas, Deutsche Bank, CBOE, Digital Asset, and Paxos.
The participation of DRW Holdings, a Chicago-based multi-sector trading firm, and Liberty City Ventures, a New York-based venture Capital Venture Capital specializing in Web3, AI, and blockchain, demonstrates Canton Network’s growing potential to bring traditional financial institutions deeper into the world of digital assets.
New wave in Canton Network ecosystem
This information was announced just days after BitGo, one of the leading companies in digital asset technology, announced a partnership with Canton Network to integrate custody services for CC Token .
This partnership enables banks and fund managers to access the Canton network in a compliant manner while providing high-level security with cold storage and asset insurance, paving the way for the development of products such as stablecoins and on-chain assets in the future.
