BNY Mellon and Nasdaq participate in $50 million new digital asset financing, betting on blockchain

Odaily Planet Daily News: Blockchain company Digital Asset Holdings LLC, operating in the financial sector, has completed a new $50 million funding round. Investors in this round include Bank of New York Mellon Corp. (BNY Mellon), Nasdaq Inc., S&P Global, and iCapital. This new capital comes after the company’s earlier $135 million financing completed earlier this year. The previous round was led by DRW Venture Capital and Tradeweb Markets, with participation from market makers such as Citadel Securities, IMC, and Optiver. Based in New York, Digital Asset Holdings LLC is known for its public blockchain, Canton Network. Canton Network is designed to process financial transactions, allowing users to decide which information needs to remain confidential, and is becoming a strong option for asset tokenization. Asset tokenization is the process of issuing and transferring traditional assets such as stocks and bonds using blockchain technology. Several institutions, including Goldman Sachs and Tradeweb Markets, are already using Canton Network or participating in its managing entity, the Global Synchronizer Foundation. This round of new investment from banks and exchange operators reflects growing institutional interest in blockchain. For example, several Wall Street banks and trading firms used Canton Network to conduct digital dollar U.S. Treasury transactions on Saturday.