TLDR
- Digital Asset raised $355 million led by a16z crypto, its third round in the past year, reportedly valuing the company above $2 billion.
- Canton processes over $9 trillion in tokenized assets every month and roughly $350 billion in onchain US treasury repo daily.
- RedStone has been a member of the Canton Foundation since 2025, operating as a participant node and supplying price feeds across a growing set of Canton applications.
- In April, RedStone proposed CAPS, a Canton Improvement Proposal for privacy-preserving price fixing across the network. The proposal is currently under community review.
Inside Canton’s Growing Footprint in Onchain Finance
Digital Asset, the company behind Canton Network, recently raised $355 million in a funding round led by a16z crypto. The round drew participation from Apollo Funds, BNP Paribas, Citadel Securities, HSBC, S&P Global, Tradeweb, and the Abu Dhabi Investment Authority, among others. The raise is reported to value the company above $2 billion.
This is another signal that institutional capital is taking tokenization and onchain finance seriously. Digital Asset has now raised over $500 million across three rounds in the past year.
Canton network currently hosts over $9 trillion in tokenized assets, including U.S. Treasury repos, syndicated loans, money market funds, and commodity settlements. It generates over $2M in daily fee-based revenue for its participants. Running markets at that scale, across asset classes already familiar to TradFi institutions, requires data infrastructure that is built specifically for that environment.
RedStone has been a member of the Canton Foundation since 2025, operating as a participant node on the network and providing pricing data that adapts to Canton’s privacy requirements.
Pricing Data Built for Canton’s Privacy Model
Canton is a blockchain built for regulated financial markets, where each participant controls their own data, counterparty connections, and transaction visibility. It runs on Daml, a non-EVM smart contract language that enforces those access rules at the contract level.
Assets being settled on Canton operate under confidentiality requirements that standard public chains like Ethereum or Solana were never designed to meet. Institutions can participate without revealing positions, strategies, or counterparty relationships.
RedStone built its oracle architecture natively for Daml to operate inside that model, rather than adapting an existing EVM design. As a Canton participant node, RedStone delivers data through Canton’s explicit disclosure mechanism, so pricing reaches only the parties authorized to see it.
Reliable, privacy-preserving data is what makes financial products viable for institutional deployment on Canton, whether that’s pricing a native asset, settling trades, or bringing tokenized assets onto the network. RedStone is already working with a growing set of applications across the ecosystem, each with its own data needs.
A Price Reference for Canton’s Own Token: AVRO
AVRO is building a DEX on Canton for the network’s native asset, Canton Coin (CC). It uses a Dual Flow Batch Auction (DFBA) model that clears trades in batches at a single price rather than matching them continuously.
The DFBA structure needs an independent reference to clear against, since a thin or imbalanced batch could otherwise settle away from the asset’s current value.
RedStone supplies that reference: a CC price feed aggregated across multiple independent sources. AVRO is building its Dual Flow Batch Auctions on top of that feed, so every settlement reflects accurate, manipulation-resistant pricing as the foundation for institutional-grade liquidity moving onto Canton.
Bringing Ethereum onto Canton: Zenith
Zenith is the canonical EVM and SVM execution layer of Canton Network, enabling Ethereum and Solana developers to deploy applications that atomically interact with Canton’s institutional infrastructure.
As a Tier-1 Super Validator with maximum voting weight alongside DTCC, Nasdaq, and Visa, Zenith operates two complementary environments: a reference EVM for developers building with familiar tooling, and a dedicated Stack for institutions requiring sovereign execution environments with custom governance and permissioning.
With internal testnet live and mainnet targeted for 2026, Zenith brings global developer ecosystems to the $9T+ in monthly institutional flows on Canton.
RedStone serves as the network’s decentralized production oracle, delivering financial-grade price feeds across tokenized assets, equities, FX, and commodities, purpose-built for Canton’s institutional privacy and settlement requirements.
Powering Canton infrastructure: Noves
Noves provides private, on-premises data infrastructure for Canton Network. It lets institutions handle reporting and operations around their Canton activity while preserving the same privacy and control that Canton’s settlement model depends on.
The Noves Data Platform is built for regulated institutions, with the strictest demands of privacy and control, to manage sensitive digital asset operations at scale. Noves is used by 150+ Canton participants, serving the operating infrastructure requirement of tokenized finance.
RedStone supplies the price feeds for tokens running through Noves, including stablecoins and tokenized funds the platform has no price source for.
For the custodians and fund administrators using Noves, that means mark-to-market valuation, book closing, and cost basis reporting against pricing built for the same privacy requirements the rest of their Canton activity runs under.
The Canton Access and Privacy Standard
In April, RedStone proposed the Canton Access and Privacy Standard (CAPS), a standard for how Canton applications should fix and share prices without breaking the network’s privacy guarantees, submitted as a formal Canton Improvement Proposal (CIP).
One credentialed source establishes a single, agreed-upon price, and each institution then creates its own private copy for its own use, a copy the oracle itself never sees. The proposal is currently being reviewed by the community.
RedStone is also in early discussions with several institutions about using CAPS as the pricing layer for assets they’re bringing onto Canton, among them Hamilton Lane’s SCOPE private credit fund, Re’s reUSD reinsurance token, Fasanara’s F-ONE alternative credit fund, and Spiko’s tokenized treasury bill products. Each of these funds is already issued as a token on other chains, and CAPS could bring the same programmability with enhanced privacy options onto Canton.
The Data Layer For Institutional Finance on Canton
Canton is where institutional finance is choosing to build at scale, with real assets and real counterparties. The infrastructure for that is already in place: RedStone supplies price feeds for crypto, equities, commodities, FX, and custom NAV feeds for tokenized funds, the asset classes institutions are bringing onchain today.
