Shinhan Financial Group Invests $10M in RWA Blockchain Developer Digital Asset

Shinhan Financial Group and Standard Chartered's SC Ventures invested $10 million in Digital Asset on the 21st (local time), the developer of real-world asset (RWA) blockchain Canton Network, according to The Block. The investment follows Hanwha Investment & Securities' earlier participation in Digital Asset's funding. Digital Asset develops Canton Network, a blockchain infrastructure designed for tokenizing real-world assets in financial markets.

Shinhan and SC Ventures Invest $10 Million in Digital Asset

The Block reported on the 21st (local time) that Shinhan Financial Group and Standard Chartered's SC Ventures invested $10 million (approximately 14.8 billion won) in Digital Asset. The investment adds to Digital Asset's existing funding base and expands its strategic partnership network in Asia.

Digital Asset's Total Funding Reaches $365 Million

Digital Asset's total funding increased from $355 million (approximately 530 billion won) to $365 million (approximately 540 billion won), according to the report. The company's valuation remained at $2 billion (approximately 2.96 trillion won), unchanged from its previous funding round.

Previous Funding Round Attracted a16z Crypto and Citadel Securities

Digital Asset announced a $355 million funding round in June, led by Andreessen Horowitz's crypto fund a16z crypto, according to the report. The round included participation from Citadel Securities, SBI Group, CME Ventures, and Korean firm Hanwha Investment & Securities.

CEO Rooz Highlights Strategic Value of New Investors

Yuval Rooz, CEO of Digital Asset, told the publication: "With Shinhan Financial Group and Standard Chartered joining as investors, we further strengthen our global reach, market expertise, and ecosystem connectivity at a critical time for us."

FAQ

What did Shinhan Financial Group invest in on the 21st? Shinhan Financial Group and SC Ventures invested $10 million in Digital Asset, the developer of Canton Network, a real-world asset (RWA) blockchain platform.

How much total funding has Digital Asset raised? Digital Asset's total funding reached $365 million with the latest investment from Shinhan Financial Group and SC Ventures, increasing from the previous $355 million raised in June.