You can trade government bonds on weekends too! Digital Asset secures $50 million in asset tokenization financing

Blockchain company Digital Asset Holdings LLC, focused on the financial sector, has raised an additional $50 million in funding. Digital Asset’s public blockchain, Canton Network, processes financial transactions and allows users to determine which information remains confidential. In August this year, several Wall Street banks and trading firms used the network to trade U.S. Treasuries with digital dollars on a Saturday, enabling 24/7 trading.

BNY Mellon and Nasdaq Lead $185 Million Fundraise This Year

Digital Asset Holdings LLC raised an additional $50 million from backers including BNY Mellon and Nasdaq Inc., as some Wall Street giants begin to embrace the technology behind cryptocurrencies for handling traditional assets. According to sources familiar with the matter, this new funding adds to the $135 million the company raised earlier this year, with new investors including S&P Global and iCapital.

The previous $135 million round was led by DRW Venture Capital and Tradeweb Markets, with market makers Citadel Securities, IMC, and Optiver also participating. This lineup is highly illustrative: DRW and Citadel Securities are among the world’s largest market makers, Tradeweb is a leader in electronic fixed income trading platforms, and IMC and Optiver are top players in high-frequency trading. These institutions share a need for highly efficient and reliable trading infrastructure. Their investment in Digital Asset signals that the Canton Network’s technology has been recognized by the industry’s most demanding clients.

The new $50 million round brought in equally heavyweight investors. BNY Mellon is the world’s largest custodian bank, overseeing over $48 trillion in assets. Nasdaq is the world’s second-largest stock exchange, with its technology powering more than 130 markets globally. S&P Global is a giant in financial data and ratings, while iCapital is a leader in alternative investment platforms. The participation of these four institutions marks Digital Asset’s expansion from crypto-native backers to recognition by core players in traditional finance.

Digital Asset’s 2025 Fundraising Details

First Round: $135 million (Led by DRW, Tradeweb, Citadel Securities)

Second Round: $50 million (BNY Mellon, Nasdaq, S&P Global, iCapital)

Total for the Year: $185 million

Valuation: Undisclosed (market estimates above $1 billion)

A Digital Asset spokesperson declined to disclose the total raised or the valuation but confirmed the participation of new investors. Such confidentiality is common among pre-IPO companies, typically to avoid premature exposure that could affect future rounds or IPO pricing.

Canton Network’s Privacy Advantage for Financial Blockchains

Headquartered in New York, Digital Asset’s best-known product is its public blockchain, Canton Network, developed in 2023. The company says Canton Network is better suited for financial transactions because users can decide which information should remain confidential. This privacy design is Canton Network’s core advantage over public blockchains like Ethereum.

On public blockchains, all transaction records are fully transparent—anyone can look up an address’s history and balance. While this transparency is advantageous for preventing fraud and enabling audits, it’s a fatal flaw for institutional financial transactions. Banks and large institutions do not want counterparties, competitors, or even customers to know their trade details, positions, or strategies, as this information is commercially sensitive and critical for market advantage.

Canton Network uses a “selective disclosure” mechanism. The counterparties can see the details of their own trades, and regulators can view necessary information with authorization, but other market participants cannot access any transaction content. This design maintains blockchain’s settlement efficiency and immutability while meeting institutions’ strict privacy requirements.

Digital Asset previously stated that several backers, including Goldman Sachs and Tradeweb Markets, have been using the network or participating in its governing body, the Global Synchronizer Foundation. Goldman Sachs, as a top global investment bank, using Canton Network is a major endorsement of its technical reliability and compliance. Tradeweb’s involvement—the dominant fixed income trading platform—shows Canton’s practical potential in bond trading and settlement.

Three Core Advantages of Canton Network

Selective Privacy: Counterparties control information visibility, meeting institutional confidentiality needs

Regulator Friendly: Regulators can access transaction data with authorization, meeting compliance requirements

Financial-Grade Performance: Optimized for high-frequency, low-latency financial transactions

Weekend Treasury Trading Ushers in a 24/7 Financial Era

In August this year, several Wall Street banks and trading firms used Canton Network to trade U.S. Treasuries with digital dollars on a Saturday. While this might seem like a simple scenario, it’s a major milestone in the asset tokenization revolution. Traditional financial markets are limited by banking hours and settlement system workdays—no trading or settlement on weekends and holidays. This restriction creates inefficiency and risk exposure in global markets.

For example, if a major geopolitical event occurs after Friday’s close, investors must wait until Monday to adjust positions. During this 48-hour gap, market risk is unhedged, potentially leading to major losses. Asset tokenization enables 24/7 trading and instant settlement via blockchain, eliminating this time restriction altogether.

The technical realization of Saturday Treasury trading involves several innovations. First, tokenizing U.S. Treasuries—turning traditional bond certificates into digital tokens on the blockchain, with each token representing a specific face value and maturity. Second, the use of digital dollars, such as stablecoins or CBDCs, as instant and final settlement tools. Third, smart contracts automate the process: when both parties agree, the contract automatically exchanges assets and funds, with no need for traditional clearinghouses or settlement systems.

This 24/7 trading capability has profound implications for global financial markets. If Asian investors want to adjust their U.S. Treasury positions on a Sunday, they no longer need to wait for U.S. markets to open on Monday—they can trade instantly on Canton Network. This global, around-the-clock market will dramatically boost capital allocation efficiency and reduce systemic risk.

Trump Policy Tailwinds and Regulatory Shift

The influx of capital from banks and exchanges reflects growing institutional interest in Digital Asset and blockchain, thanks to a more favorable U.S. regulatory environment. President Donald Trump has been an outspoken supporter of the industry and, since returning to office this year, has appointed several crypto-friendly officials to key financial regulatory agencies and actively pushed for new legislation.

This regulatory shift is a key backdrop for Digital Asset’s successful $185 million fundraise in 2025. Under the Biden administration, the SEC and other regulators took a tough enforcement stance on crypto, with many blockchain projects facing investigations and lawsuits. This uncertainty made traditional financial institutions cautious about blockchain, even if they saw its technical benefits.

The Trump administration’s policy pivot removed these concerns. Newly appointed regulators have declared support for blockchain applications in finance and pledged to provide clear frameworks for asset tokenization. This policy certainty removes barriers for conservative institutions like BNY Mellon and Nasdaq, allowing them to invest in and use blockchain technology without fear of regulatory backlash.

Canton Network is emerging as a compelling option for asset tokenization. Asset tokenization refers to using blockchain to issue and transfer traditional assets like stocks or bonds. One of its key advantages is enabling 24/7 trading, overcoming the time and geographic limits of traditional financial markets.

A Decade of Development Culminates in Institutional Adoption

Founded over a decade ago, Digital Asset was among the first blockchain startups to win the backing of major financial institutions and collaborate with them to test privacy-focused distributed ledgers. This history shows that Digital Asset is no crypto hype opportunist, but a pioneer in building financial infrastructure before blockchain was mainstream.

Ten years of work have given Digital Asset an unmatchable moat in technical maturity, regulatory relationships, and client trust. Many later entrants may have newer tech but lack banking clients; Digital Asset has built deep ties with top firms like Goldman Sachs and BNY Mellon. This first-mover advantage is especially vital in regulated fintech, where switching providers is costly and institutions tend to stick with chosen partners long-term.

The 2025 fundraising wave and successful Saturday Treasury trades mark the start of Digital Asset’s harvest after a decade of effort. When a friendly regulatory environment, proven technology, and clear customer demand all align, asset tokenization moves from proof-of-concept to large-scale commercialization. The participation of traditional finance giants like BNY Mellon, Nasdaq, and S&P Global signals blockchain’s upgrade from “experimental technology” to “core infrastructure” in financial markets.

FAQ

What is Digital Asset?

Digital Asset Holdings LLC is a blockchain company focused on the financial sector, founded over a decade ago. Its core product, Canton Network, is a blockchain designed for institutional financial transactions, offering selective privacy protection and allowing users to control the visibility of their transaction data.

What are the benefits of asset tokenization?

Enables 24/7 trading (unlike traditional markets, which are only open on business days), instant settlement (from T+2 down to a few minutes), lower transaction costs (fewer intermediaries), and increased liquidity (fractional ownership allows smaller investors to participate).

How does Canton Network differ from Ethereum?

Canton provides selective privacy (transaction details can be selectively disclosed), while Ethereum is fully transparent. Canton is optimized for financial institutions, while Ethereum is a general-purpose platform. Canton uses a permissioned architecture; Ethereum is a permissionless public chain. Financial institutions prefer Canton’s privacy protection.

How is weekend Treasury trading achieved?

U.S. Treasuries are tokenized into digital tokens on the blockchain. Digital dollars (stablecoins) are used as the settlement tool. Smart contracts automatically execute trades. The entire process occurs on Canton Network, bypassing the traditional settlement system’s workday limits.

Can ordinary investors use Canton Network?

Currently, Canton Network mainly serves institutional clients, so ordinary investors cannot use it directly. However, as asset tokenization becomes more common, individuals may indirectly benefit from 24/7 trading and lower costs through brokers or wealth management platforms in the future.