Overview

Digital Asset operates in the financial technology sector, focusing on blockchain technology to enhance global connectivity for organizations. Their main product is the Canton Network, an open blockchain network that ensures privacy and control, making it suitable for regulated industries like financial markets. Digital Asset's applications are built on Daml, a platform for creating multi-party applications that run on the Canton blockchain. They also offer Daml Enterprise for global synchronization and Daml Hub for businesses to test new features without production costs. Their clients include major financial institutions like Goldman Sachs and FCX, which utilize Daml for various applications such as tokenized asset infrastructure and cap table management. Digital Asset differentiates itself by providing a comprehensive suite of tools that facilitate secure and efficient information flow across organizations, aiming to unlock economic potential in a connected world.

Simplify's Take

What believers are saying

• Increased adoption of tokenized assets in traditional finance boosts Digital Asset's market potential.
• Partnerships with major financial institutions enhance credibility and business opportunities.
• Interoperability tech for Canton Network suggests more integrated blockchain solutions.

What critics are saying

• Regulatory scrutiny may increase due to crypto derivatives margining collaboration.
• Technical vulnerabilities could arise from Canton Network's interoperability tech launch.
• Competitive pressures exist in tokenized asset distribution with other blockchain providers.

What makes Digital Asset unique

• Digital Asset's Daml platform enables synchronized networks, reducing latency and errors.
• Canton Network offers privacy-enabled blockchain solutions for regulated industries.
• Daml Hub allows businesses to experiment without production operation costs.

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Funding

Total Funding

$298.8M

Above

Industry Average

Funded Over

5 Rounds

$120,000,000

Series D

Apr 2021

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.

Series D Funding Comparison

Above Average

Industry standards

Ind Avg. $77M

$49M

$50M

$70M

$80M

$100M

$120M

View all funding stages