Canton-Based Platform Cancore Raises $7.2 Million Seed Round to Expand RWA Liquidity
Summary
- Cancore said it raised a $7.2 million seed round through a SAFT at a $60 million fully diluted valuation (FDV).
- Cancore said it connects tokenized real-world asset (RWA) products registered on Canton with stablecoin and decentralized finance (DeFi) liquidity across multiple blockchains, supporting cross-chain asset transfers.
- Cancore said it has recorded $86 million in cumulative transaction volume and $700,000 in revenue since its mainnet launch, and is preparing to launch its native token 'CNRX' with token staking-based fee discounts.
Forecast Trend Report by Period
Cancore, a trading platform built on the Canton Network, has raised $7.2 million in seed funding.
The Block reported on October 28 that Cancore completed the seed round with participation from Paper Ventures, dao5, Arrington Capital, X Ventures, MH Ventures and Proof of Talk. The investment was structured as a SAFT, or Simple Agreement for Future Tokens, at a fully diluted valuation of $60 million.
Cancore is a platform that connects tokenized real-world asset products registered on Canton, an institutional blockchain, with stablecoin and decentralized finance liquidity on external blockchains. Its core offering is automating trading and settlement for institutional assets while enabling cross-chain asset transfers.
The platform currently supports transactions across Canton, Ethereum, Arbitrum, BNB Chain, Robinhood Chain and Tron. It plans to expand support to Base and Solana. The Solana integration will proceed after an external security audit.
Co-founder and Chief Executive Officer Wasif Rashid said cumulative transaction volume has exceeded $86 million since the mainnet launch in April. The platform has processed more than 160,000 transactions, while revenue over the same period has topped $700,000.
Cancore is also preparing to launch its native token, CNRX. The company plans to offer staking users benefits including trading-fee discounts and higher transaction limits. It did not disclose a launch timeline.
