Bank of New York and Nasdaq participate in a new $50 million funding round for digital assets, betting on blockchain.

Odaily reports that Digital Asset Holdings LLC, a blockchain company in the financial sector, has completed a new round of financing of $50 million. Investors include Bank of New York Mellon Corp. (BNY Mellon), Nasdaq Inc., S&P Global, and iCapital.

This new funding round follows the company's $135 million funding round earlier this year. The previous round was led by DRW Venture Capital and Tradeweb Markets, with participation from market makers such as Citadel Securities, IMC, and Optiver.

Digital Asset Holdings LLC, based in New York, is best known for developing the Canton Network, a public blockchain. The Canton Network is designed to process financial transactions, allowing users to decide which information needs to be kept confidential, and is emerging as a powerful option for asset tokenization. Asset tokenization is the process of issuing and transferring traditional assets such as stocks and bonds using blockchain technology. Several institutions, including Goldman Sachs and Tradeweb Markets, are already using the Canton Network or participating in its governing body, the Global Synchronizer Foundation.

This round of new funding from banks and exchange operators reflects the growing institutional interest in blockchain. For example, several Wall Street banks and trading firms used Canton Network to trade U.S. Treasury bonds in digital dollars on Saturday.