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Digital Asset builds blockchain-based software for finance, helping organizations move information and value across borders. Its main products center on the Canton Network, an open, privacy-enabled blockchain, and the Daml platform for creating multi-party applications that run on Canton. Daml Enterprise adds global connectivity for scalable, private workflows, while Daml Hub and Daml Open Source support experimentation and privacy-ready SDKs. The company aims to expand the global economy by enabling regulated enterprises to collaborate across markets with controlled, private data and interoperable applications.
Industries
Enterprise Software
Fintech
Crypto & Web3
Financial Services
Company Size
201-500
Company Stage
Late Stage VC
Total Funding
$822.4M
Headquarters
New York City, New York
Founded
2014
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Total Funding
$822.4M
Above
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Canton blockchain to pilot welfare payments across 3 US states. Digital Asset develops blockchain-based RISE benefits program. Reading Time: 3 mins read Digital Asset, the developer behind the Canton blockchain, is preparing to pilot a blockchain-based system designed to distribute government welfare benefits across three U.S. states, according to reports. The initiative is being developed with the American Idea Foundation, a nonprofit organization founded by former U.S. House Speaker Paul Ryan. The proposed program, known as RISE, is short for Resources for Independence, Stability, and Employment. It aims to bring multiple government-administered assistance programs into a more unified payment system, potentially changing how eligible recipients receive and manage public benefits. The RISE program is being designed to consolidate multiple welfare and aid benefits into a single blockchain-based payment system, with the Canton network expected to provide the underlying infrastructure. The pilot is targeted for the first quarter of 2027, although the project remains subject to federal approval. Digital Asset and the American Idea Foundation have not yet disclosed which three states will participate or which specific welfare programs will be included in the initial trial. Single payment model under consideration. The proposed structure would combine several forms of government assistance into a consolidated payment. Under the model being considered, eligible recipients could receive a single payment once or twice each month rather than managing separate disbursements associated with different programs. Such an approach could simplify the administration of public assistance while potentially making benefit distribution easier for recipients. Government agencies could also gain a more unified mechanism for coordinating payments across multiple programs. The use of blockchain technology is expected to form a central component of the initiative. Canton, the blockchain developed by Digital Asset, is being considered as the infrastructure supporting the RISE program. Blockchain-based systems can provide a shared digital record of transactions and allow authorized participants to coordinate financial activity through a common network. For a welfare distribution system, such infrastructure could potentially support greater transparency and more streamlined payment processing, although the practical benefits will depend on how the pilot is designed and implemented. Federal approval remains a key step. The planned launch is still dependent on federal approval, making regulatory clearance an important milestone for the project. The participating states and the government benefit programs selected for the pilot are expected to be identified at a later stage. The initiative also comes as governments and technology companies continue exploring ways to modernize payment infrastructure and reduce administrative complexity. Welfare programs can involve multiple agencies, eligibility requirements and payment schedules, which can make benefits difficult to coordinate. By combining different forms of assistance into a unified payment, RISE could give eligible recipients a simpler way to access government support while potentially reducing the complexity of administering separate benefit streams. The involvement of the American Idea Foundation adds a policy-focused component to the initiative. The organization is participating alongside Digital Asset as the two groups work toward developing the proposed system and testing its viability in state-level welfare programs. Pilot could test blockchain's role in public benefits. The three-state pilot is expected to provide an opportunity to evaluate whether blockchain technology can support government benefit distribution at scale. The results could help determine whether a consolidated digital payment model can improve administrative efficiency while maintaining appropriate controls for public funds and recipient eligibility. However, significant details remain unresolved. The states involved, the welfare programs covered, and the exact structure of the payments have yet to be disclosed. Federal authorization is also required before the planned pilot can proceed. As per reports, the RISE initiative is currently positioned as a limited pilot rather than a nationwide replacement for existing welfare payment systems. Its initial results could nevertheless provide insight into whether blockchain infrastructure can be used to coordinate government assistance more efficiently. If approved and successfully launched in early 2027, the pilot could offer an important real-world test of whether blockchain infrastructure can support the delivery of government benefits across multiple programs and jurisdictions.
The American Idea Foundation and Digital Asset announced a collaboration to launch state RISE pilot programmes using Canton blockchain technology to modernise benefit distribution. The initial rollout is planned for Q1 2027 across three states, subject to federal approvals. RISE aims to consolidate multiple state-administered benefits into unified monthly or twice-monthly payments that automatically adjust as household income changes. The blockchain-based system is designed to verify identity, prevent fraud, and maintain programme integrity whilst simplifying the experience for families. Benefits will be programmable across categories including food, childcare, and cash. Authorised agencies will have access to real-time transaction and compliance data, creating a comprehensive audit trail. The pilot will evaluate employment outcomes, benefit utilisation, and economic mobility measures. Findings will inform subsequent deployments across additional states with different benefit systems and policy requirements.
Proof of concept launched for Japanese Government Bond repos. Mitsubishi UFJ Financial Group, Inc. (President & Group CEO: Junichi Hanzawa; "MUFG"), Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. (President & CEO: Hiroyuki Seki; "Mitsubishi UFJ Morgan Stanley Securities"), Mitsubishi UFJ Trust and Banking Corporation (President: Hiroshi Kubota; "Mitsubishi UFJ Trust and Banking"), and MUFG Bank, Ltd. (President & CEO: Masakazu Osawa; "MUFG Bank") (together, the "four MUFG companies") announce that, together with Digital Asset Holdings, LLC (CEO: Yuval Rooz; "DA") and Progmat, Inc. (CEO: Tatsuya Saito; "Progmat"), they are launching a collaboration on a proof-of-concept ("PoC") for bringing on-chain Japanese Government Bond ("JGB") repo transactions using Canton Network, a blockchain purpose-built for institutional finance. 1. Background and Objectives of the PoC As an application of blockchain technology in financial markets, the domestic primary market has seen growing issuance of security tokens backed by bonds, real estate, and other assets. More recently, overseas markets have advanced PoC projects and practical implementations that bring secondary-market financial transactions on-chain, aiming to improve operational efficiency through automation of the transaction lifecycle and to enhance funding and capital efficiency through real-time, 24/7 settlement. In Europe and the United States in particular, PoC projects for intraday (starting and ending on the same trading day) government bond repo transactions have rapidly expanded, and commercial services for intraday U.S. Treasury repo are already in operation. Given their high creditworthiness and liquidity, JGBs are widely used as collateral for repo transactions by market participants in Japan and overseas, and momentum and expectations for bringing them on-chain are growing. MUFG has to date pursued a range of on-chain finance initiatives and, as Japan's largest financial group handling JGBs, provides JGB liquidity and settlement-related services. We believe that continuing to offer these same functions and services on-chain is essential to the development of financial markets and to maintaining and enhancing convenience for investors. Against this backdrop, MUFG is launching the collaboration described below on a PoC for bringing JGB repo transactions on-chain. Toward the PoC and its subsequent implementation in society, we intend to engage in appropriate, in-depth communication with the relevant authorities, and to work together not only within MUFG but with a wide range of market participants, including financial institutions in Japan and overseas. We also aim to further develop the projects in close collaboration with Morgan Stanley, our global strategic alliance partner. This PoC will be conducted as part of a series of pilot projects selected in February 2026 under the "Payment Innovation Project" led by the Financial Services Agency (FSA) of Japan. 2. Overview of the PoC (On-Chain Repo Transactions) * On-Chain Simultaneous Settlement (DvP) of JGBs and Digital Money[*1] Scope: Drawing on precedents, and while preserving the legal nature of JGBs as book-entry transfer bonds, the transfer registration ledger held by the account management institution would be updated in conjunction with the blockchain; use of tokenized deposits or stablecoins as digital money is also being considered * On-Chain Implementation of the Full Repo Transaction Lifecycle Scope: Through a mechanism similar to that described in 1, the lending protocol[*2] provided by Secured Finance AG (Founder & CEO: Masakazu Kikuchi; "SF") would be used to automate the full sequence of processes * Expected Benefits * Operational efficiency through automation of the full repo transaction lifecycle, among other benefits * * Improved funding and capital efficiency through real-time intraday repo transactions and expanded settlement window * Roles of Participating Companies * DA: Provides the tokenization framework built on the "Canton Network" blockchain and supports token issuance and management * Progmat: Analyzes existing practices and provides support, including productization, for applying blockchain technology to JGB book-entry transfers and their use in repo transactions * SF: Implements the repo transaction lifecycle within the lending protocol (On-Chain Implementation of the Full Repo Transaction Lifecycle) Roles of MUFG Group Companies Market Participants: Mitsubishi UFJ Morgan Stanley Securities, MUFG Bank Account Management Institutions: MUFG Bank, Mitsubishi UFJ Trust and Banking Deposit-Taking Institution: MUFG Bank And receive exclusive articles on securities markets The 2026 Global Markets Choice Awards are here! Nominations are officially OPEN for the celebration of excellence in global capital markets trading & technology. Nominate below: https://www.jotform.com/form/260086385121150 Delaware Life Insurance Company is becoming the first insurance carrier to offer an index that contains cryptocurrency, adding the BlackRock U.S. Equity Bitcoin Balanced Risk 12% Index to its fixed index annuity (FIA) portfolio. As the digital assets industry pushes toward Franklin Templeton is expanding its tokenized fund suite, signaling growing institutional demand for blockchain-based fund infrastructure and regulated investment products moving onchain. Read the full article below: $50 billion in active ETF inflows helped fuel a record year for @BlackRock 's iShares business, as investors continue to lean into active strategies.
MUFG PoC to bring Japanese government bond repo transactions onchain. MUFG's experiment plans to bring Japanese government bond repo transactions onchain to achieve 24/7 settlement, as well as improved capital and operational efficiency. Four MUFG companies plan to bring Japanese government bond repo transactions onchain using the Canton Network, as part of a new proof of concept (PoC). The four companies, including MUFG, Mitsubishi UFJ Morgan Stanley Securities, Mitsubishi UFJ Trust and Banking and MUFG Bank, will collaborate with Digital Asset Holdings and Progmat for the PoC, according to a Thursday announcement. The companies said they seek to improve operational efficiency through automation of the transaction lifecycle, enable real-time intraday settlement 24/7, as well as enhance funding and capital efficiency. The initiative is part of the Payment Innovation Project pilot announced by Japan's Financial Services Agency in February 2026, aimed at helping fintech firms run PoCs on advanced payment technologies such as blockchain-based solutions, stablecoins, tokenization and onchain settlement. MUFG has been extending its push into blockchain. In June 2023, the financial services firm announced that its stablecoin issuance platform "Progmat Coin" will be used by banks to launch Japanese yen-pegged stablecoins on several public blockchains. MUFG dropped its blockchain payments project GO-Net Japan in February 2022 to focus on its stablecoin initiatives.
Arqitech deploys Canton Token Standard V2 in its Atomic Swap Protocol for institutional counterparties. Arqitech executes native multi-chain swaps of Canton Coin to Bitcoin, Ethereum, Solana and TRON with regulated firms who require full control of their assets and privacy. BOCA RATON, Fla., July 28, 2026 (GLOBE NEWSWIRE) - Arqitech, Inc. today announced that it has completed its first Canton Token Standard V2 atomic swaps on the live main network with partner institutions. These transactions let institutions exchange Canton Coin (CC) directly on-chain for Bitcoin, Ethereum, Solana, and TRON assets in a secure, all-or-nothing way, without handing control of their assets to any middleman and without using any bridges or wraps. Canton Token Standard V2, approved by the Canton Foundation in June 2026, was created to make Canton work better with traditional and decentralized finance processes. The standard introduces committed allocations, an irrevocable lock until a defined settlement deadline, which gives the Canton leg of a cross-chain HTLC the same timelock guarantees institutions expect from native chain settlement. Arqitech collaborated with Digital Asset on the standard, which now underpins advanced institutional uses such as trustless atomic swaps and regulated real-world asset settlement. "We completed our first institutional native swap of Canton Coin to Bitcoin on MainNet through Arqitech's Atomic Swap Protocol. The ability to settle atomically without giving up custody or privacy is exactly the standard our clients expect." - Javier Martinez, CEO, sFOX For regulated firms, the practical benefit is immediate. Institutions can now take holdings that live on the Canton network and swap them for tokens on selected public blockchains while continuing to benefit from Canton's private, secure settlement environment. Participants keep exclusive control of their private keys, avoid the risk of using a third-party custodian, and can continue using their existing compliance and accounting processes. The result is a controlled connection that expands liquidity options without giving up the privacy and operational standards that make Canton attractive to institutional users. Arqitech's Atomic Swap Protocol is built so that every participant signs their own transactions, whether through enterprise key-management systems or their own private nodes. Network validator nodes only prepare and submit instructions that have already been signed. This delivers institutional-grade settlement that keeps full custody with the participants at every step. "We have been building and operating DeFi infrastructure since 2018, and we're bringing that experience to the Canton Network. Our Atomic Swap Protocol delivers native on-chain swap interoperability, liquidity and settlement rails, while meeting the same custody, audit, and risk standards institutions require," said Brian Wasserman, CEO of Arqitech. "Today's MainNet trades demonstrate and deliver that capability." With Canton Network cross-chain atomic swaps now live on Arqitech's Atomic Swap Protocol, and with Arqitech operating as a validator on the Canton Network, Arqitech now provides full two-way, non-custodial connectivity between Canton and major digital-asset networks. This forms a core part of the company's institutional cross-chain and real-world asset settlement architecture. FORWARD-LOOKING STATEMENTS DISCLAIMER This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "continue," "plans," or similar terminology. These statements are based on management's current expectations and are subject to risks and uncertainties, including technological changes, regulatory approvals, and market acceptance, that may cause actual results to differ materially. Arqitech undertakes no obligation to update these statements. ABOUT ARQITECH, INC. Arqitech is building an institutional ecosystem for real-world asset (RWA) liquidity, centered on a white-labeled RWA Capital Markets platform designed as an Alternative Trading System (ATS) and orchestration layer. The platform connects broker-dealers and their clients to tokenized securities, digital assets, and regulated prediction markets, all supported by robust compliant onboarding and reporting infrastructure. Arqitech is also creating a proprietary tokenized asset supply, making high-yield RWA products previously available only to large institutions available to its client broker-dealers, while driving deeper liquidity and strong network effects across the ecosystem. Arqitech is headquartered in Boca Raton, Florida. For more information, visit arqitech.com. Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
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Industries
Enterprise Software
Fintech
Crypto & Web3
Financial Services
Company Size
201-500
Company Stage
Late Stage VC
Total Funding
$822.4M
Headquarters
New York City, New York
Founded
2014
Find jobs on Simplify and start your career today