Institutional backers plot $500M Canton token treasury: Report
DRW Holdings and Liberty City Ventures are reportedly exploring the creation of a Canton Network token treasury, signaling significant institutional backing for the blockchain.
Trading firm DRW Holdings and venture capital firm Liberty City Ventures are reportedly seeking to raise around $500 million for a publicly listed digital asset treasury that will hold the Canton Network’s native token, Canton Coin.
According to a report from Bloomberg that cited unnamed sources, DRW Holdings and Liberty City Ventures will contribute the majority of the funds using Canton Coin (CC), while external investors are expected to contribute between $100 million and $200 million.
The specifics could change, however, as the sources suggested that the deal hasn’t closed yet.