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DRW Holdings and Liberty City are reportedly in talks for the $500m Canton Fund

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Trading firm DRW Holdings and venture capital firm Liberty City Ventures are reportedly seeking to raise nearly $500 million for a publicly listed digital asset treasury that will hold Canton Network’s native token, Canton Coin.

According to a report from Bloomberg citing unnamed sources, DRW Holdings and Liberty City Ventures will contribute most of the funds using Canton Coin (CC), while external investors are expected to contribute between $100 million and $200 million.

The details are subject to change, however, as sources suggest the deal is not yet closed.

DRW Holdings is a Chicago-based trading firm diversified across a wide range of asset classes, while New York-based Liberty City Ventures is more heavily focused on the crypto market, Web3 and AI. Both are Canton Network supporters.

The news follows another Canton-related development this week, then Digital Asset Tech Company Bitgo And Canton Network has announced a partnership that will see Bitgo combine conservation support for CC.

The move will provide banks and asset managers with a regulatory-compliant way to access the network and the CC token, while it also introduces the preservation of cold storage, insurance-backed security and the potential for ecosystem growth through StableCoins and other Onchain assets.