Trading firm DRW Holdings and venture capital firm Liberty City Ventures are reportedly planning to establish a digital asset treasury valued at $500 million that will hold the native token of the Canton Network, Canton Coin.

According to a Bloomberg report citing anonymous sources, both firms will provide most of the funding through Canton Coin (CC), with external investors expected to add between $100 million and $200 million. However, details may vary as the agreement has not been finalized yet.

Canton Network Source: Canton Network

DRW Holdings is a firm based in Chicago diversified across many asset classes, while Liberty City Ventures, located in New York, focuses primarily on the cryptocurrency market, Web3, and AI. Both companies support the Canton Network.

This news comes after another recent partnership between BitGo, a digital asset technology company, and the Canton Network to enable custody support for Canton Coin.

The collaboration will give banks and asset managers a regulatory-compliant method to engage with the Canton Network and its token, offering cold-storage custody, insurance-backed security, and opportunities for ecosystem expansion via stablecoins and other onchain assets.

The project has also added two important validators: P2P.org and Chainlink, with the latter joining as a “super validator” integrating its data services and crosschain interoperability protocol.

The Canton Network is tailored for compliant trading among institutions, facilitating interoperability between financial applications and tokenized assets. Alongside DRW Holdings and Liberty City Ventures, it has the backing of numerous significant banks, tech firms, and exchanges including Digital Asset, HSBC, BNP Paribas, CBOE, Goldman Sachs, Deutsche Bank, and Paxos.