Digital Asset Raises $10M From Banking Giants for Canton Network

Blockchain technology firm Digital Asset has secured an additional 10 million dollars in funding from major financial institutions. Shinhan Financial Group and Standard Chartered's SC Ventures joined the investment round, helping the company expand its total funding to 365 million dollars.

The new capital will support the development of the Canton Network, a privacy focused blockchain designed for institutional assets. Having backing from major traditional banks shows that big finance is still very interested in blockchain technology for real world assets and settlement.

As global financial institutions continue to test blockchain systems, Canton is positioning itself as a primary network for connecting different financial systems. Watch for more traditional banks to pilot projects on the Canton network in the coming months as institutional adoption grows.