DRW Leads Talks to Raise $500 Million for Canton Token Treasury

Backers of the Canton Network are in talks to raise around $500 million for a listed vehicle that would invest in the tokens of the bank-backed blockchain — becoming the latest addition to the growing roster of digital asset treasuries.

Don Wilson’s trading powerhouse DRW Holdings and Liberty City Ventures will contribute a significant portion of the funds in the form of Canton Coins, the tokens linked to the blockchain, which aren’t yet listed on crypto exchanges, according to people familiar with the plans. Between $100 million and $200 million will come from external investors, said the people, who asked not to be named as the talks are private. The details may change as the deal hasn’t yet closed, they added.