TREE NEWS update: Cancore, a trading platform built on Canton Network, has raised a $7.2 million seed round through SAFTs for its planned CNRX token, valuing the project at a $60 million fully diluted valuation. The round had no lead investor, with Paper Ventures and dao5 taking the largest allocations; ArkStream Capital, X Ventures, MH Ventures and Proof of Talk also participated. Cancore connects tokenized real-world assets on Canton to stablecoin and DeFi liquidity on other public chains, and has processed more than $86 million across over 160,000 transactions since launching on Canton mainnet in April.
Cancore raises $7.2M seed round via CNRX token SAFT at $60M FDV
AI take
The absence of a lead investor, with allocations spread across Paper Ventures, dao5 and several smaller funds, points to a deliberately distributed cap table rather than a conviction-led bet — worth noting for how much strategic support the project actually gets. The $60M FDV on a SAFT also front-loads valuation before CNRX exists, so the token's eventual launch mechanics become the real test. The more substantive signal is the traction: connecting Canton's tokenized RWAs to cross-chain stablecoin liquidity addresses a genuine fragmentation problem, and the reported transaction volume suggests real usage rather than a purely narrative raise.
Generated by AI for reference only.
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