DRW Holdings and Liberty City Ventures Lead $500 Million Fundraising for Canton Coin Treasury
DRW Holdings and Liberty City Ventures are spearheading a significant $500 million fundraising initiative to establish a treasury for Canton Coin (CC), the native token of the Canton Network. Reported by Cointelegraph, this effort signals strong institutional support for the Canton Network—a blockchain designed to enable compliant trading for financial institutions.
**Fundraising Details**
The primary goal of this fundraising round is to create a publicly listed digital asset treasury that will hold Canton Coin. DRW Holdings, a Chicago-based trading firm, and Liberty City Ventures, a New York-based venture capital firm, are expected to contribute the majority of the capital. Additionally, external investors are anticipated to invest between $100 million and $200 million. However, the final terms of the deal remain subject to change, as the agreement has not yet been finalized, according to unnamed sources cited by Bloomberg.
**Institutional Involvement**
The participation of DRW Holdings and Liberty City Ventures highlights growing institutional interest and confidence in blockchain technology. The Canton Network already enjoys backing from major financial entities such as Digital Asset, HSBC, BNP Paribas, CBOE, Goldman Sachs, Deutsche Bank, and Paxos, further reinforcing its credibility in the institutional blockchain landscape.
**Recent Developments**
This fundraising announcement follows a partnership between the Canton Network and BitGo, a leading digital asset technology company. BitGo will provide custody support for Canton Coin, offering banks and asset managers a regulatory-compliant way to access the network. The integration will feature cold-storage custody, insurance-backed security, and is expected to facilitate ecosystem growth through stablecoins and other on-chain assets.
**Network Expansion**
In addition to the fundraising and BitGo partnership, the Canton Network recently onboarded two significant validators: P2P.org and Chainlink. Notably, Chainlink has joined as a “super validator” and will integrate its data services and cross-chain interoperability protocols into the network, enhancing Canton’s capabilities.
As the Canton Network continues to grow its reach and functionalities, the planned $500 million treasury fund marks a pivotal step in solidifying its position within the institutional blockchain sector.
*Image source: Shutterstock*
https://Blockchain.News/news/institutional-giants-plan-500m-canton-coin-treasury-fund
