Institutional Investors Plan $500M Canton Token Treasury

Institutional Investors Plan $500M Canton Token Treasury

Summary:
Trading firm DRW Holdings, alongside venture capital group Liberty City Ventures, is reportedly working to raise approximately $500 million for a digital asset treasury that will feature the Canton Network’s token, Canton Coin (CC). This initiative may reshape institutional investment in cryptocurrencies, supported by other industry developments.

Key Takeaways

DRW Holdings and Liberty City Ventures aim to raise $500 million for a Canton Coin treasury.
The majority of the funds will come from these firms, while external investors are expected to contribute $100 to $200 million.
Recent partnerships include BitGo for custody support and new validator integrations.
The Canton Network is designed for compliant trading between institutions, backed by major banks and tech firms.

Major Institutional Backers Behind the Canton Token Treasury

Trading firm DRW Holdings and venture capital firm Liberty City Ventures are reportedly aiming to collect around $500 million for a publicly traded treasury focused on the Canton Network's native token, Canton Coin (CC). Bloomberg's report, based on confidential sources, states that DRW Holdings and Liberty City Ventures will cover most of the funding through Canton Coin, with external investor contributions anticipated to range between $100 million and $200 million. It's important to note that the details are still subject to change as the agreement is not yet finalized.

Canton Network Development

Source: Canton Network

Chicago-based DRW Holdings operates across various asset classes, while New York's Liberty City Ventures concentrates mainly on the cryptocurrency sector, along with Web3 and AI initiatives. Both are significant supporters of the Canton Network.

This funding news comes alongside a recent partnership between BitGo, a digital asset technology company, and the Canton Network. This collaboration will enable BitGo to provide custody support for Canton Coin, allowing banks and asset managers to comply with regulations when accessing the network and its token. Moreover, the partnership will introduce enhanced cold-storage custody and insurance-backed security options, encouraging growth through stablecoins and diverse on-chain assets.

In addition, the Canton Network has welcomed two crucial validators: P2P.org and Chainlink. Chainlink, in particular, joins as a “super validator” and will contribute its data services and cross-chain interoperability protocol.

The Canton Network is designed to facilitate compliant trading for institutions, allowing seamless interoperability among financial applications and tokenized assets. Its backing comes from a variety of major banks, tech companies, and exchanges, including Digital Asset, HSBC, BNP Paribas, the CBOE, Goldman Sachs, Deutsche Bank, and Paxos.

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