Andreessen Horowitz Backs Blockchain Used by Wall Street Giants

Blockchain builder Digital Asset Holdings LLC raised $355 million in a new funding round led by Andreessen Horowitz’s main crypto fund, as Wall Street accelerates its focus on using the technology underlying cryptocurrencies to handle traditional assets.

Horowitz’s a16z crypto contributed $100 million to the total, in addition to funds from firms including 7RIDGE, the Abu Dhabi Investment Authority, and market-makers Citadel Securities and Optiver, according to executives.

Digital Asset created the Canton Network, a public blockchain that allows users to keep some information private, a feature touted as making it well-suited for mainstream financial transactions. ...