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.
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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.
Elsewhere, the project also recently boarded two significant validators in P2P.org and chainlink, including the last to join as a “Super Validator” and integration of data services and crosschain interoperability protocol.
The Canton Network is a blockchain designed for trading compliant institutions, enabling interoperability between financial apps and tokenized assets. In addition to DRW Holdings and Liberty City Ventures, it is Backed by a long list of heavyweight banks, tech companies and exchanges, such as digital assets, HSBC, BNP ParibasCboe, Goldman Sachs, Deutsche Bank and Paxos.
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