DRW-Backed Digital Asset Raising Money at $2 Billion Valuation

Digital Asset Holdings LLC, the company behind a blockchain used among several big banks and trading firms, is raising money from investors including a16z crypto at around a $2 billion valuation, people with knowledge of the matter said.

Andreessen Horowitz’s a16z crypto, the industry’s biggest venture backer, is leading the roughly $300 million round, said the people. The financing is expected to close in coming weeks and the final amount raised could change, they said, asking not to be identified discussing private deliberations.