Cancore (@cancore_io), a trading platform that links assets on @CantonNetwork ($CC) with liquidity on public blockchains, has raised $7.2 million in a seed round. Backers include ArkStream Ca
Cancore (@cancore_io), a trading platform that links assets on @CantonNetwork ($CC) with liquidity on public blockchains, has raised $7.2 million in a seed round. Backers include ArkStream Capital (@ark_stream), dao5 (@daofive), Paper Ventures (@Papervc), X Ventures (@XVentures_Fund), Proof of Talk (@proofoftalk) and MH Ventures (@mhventures).
According to The Block, the round was priced at a $60 million fully diluted token valuation and raised through simple agreements for future tokens (SAFTs) tied to Cancore's planned CNRX token. The Block also reported that there was no formal lead investor, although Paper Ventures and dao5 took the largest allocations, citing co-founder and CEO Wasif Rashid.
Rashid told The Block that Cancore began speaking to investors in June, formally started raising in July and closed the round in mid-September.
Cancore has been live on the Canton mainnet since April. The platform has settled more than $85 million across Canton and public chains. It connects Ethereum, Arbitrum, BNB Chain, Robinhood Chain and Tron, with Solana next. The new funds will go toward adding more networks and tokenized real-world assets.
Cancore describes itself as a "Liquidity OS for tokenized finance," The Block reported. Rashid said the aim is to connect assets on Canton, including tokenized real-world assets, with stablecoins and DeFi liquidity on other networks.
The raise comes as Canton courts regulated finance. Canton Coin is the native utility token of the network's Global Synchronizer, according to the Canton Network, which says the token launched with no pre-mine, no pre-sale and no special allocations to founders, venture investors or foundations. A Messari report says the network has drawn institutional deployments from Broadridge, DTCC and J.P. Morgan, covering areas such as repo, collateral and tokenized Treasuries.
Canton's design keeps privacy controls for institutions while allowing asset mobility, according to the project. Platforms like Cancore aim to extend that reach by routing Canton-based assets to stablecoin and DeFi liquidity elsewhere.
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