Institutional Capital Meets On-Chain Finance
Tharimmune has raised $540 million in private funding to launch a Canton Coin Treasury. The biotech firm announced the financing on November 3, 2025, led by DRW and Liberty City Ventures, with backing from ARK Invest, Polychain Capital, Kraken, and the Canton Foundation. The move establishes Tharimmune as the first publicly traded company backed by the Canton Foundation, showing growing confidence in regulated blockchain networks among major financial institutions.
According to Tharimmune, the $540 million offering was priced at $3.075 per share and is among the largest digital asset financings to date. The company plans to use the proceeds to acquire Canton Coin (CC), the native token of the Canton Network, and develop a diversified digital-asset-treasury strategy. It also aims to become a Super Validator, operating multiple validator nodes to enhance network performance and earn CC rewards.
DRW founder Don Wilson said Canton’s design “represents a breakthrough in enabling institutional-grade privacy and interoperability.” Liberty City Ventures’ managing partner, Emil Woods, added that the network “meets the compliance and efficiency standards global finance has long required.”
Tharimmune’s appointment of Mark Wendland as CEO and Mark Toomey as President to lead its digital asset strategy emphasizes the structural change underway. Both executives bring decades of experience in traditional treasury operations and capital markets, showing the company’s plan to integrate on-chain finance with established corporate practices.
Canton Network’s Expanding Institutional Role
The Canton Network, launched in 2023, was created by a group that includes Goldman Sachs, DTCC, BNP Paribas, and Deutsche Bank. It runs as a controlled blockchain that connects major financial institutions through a shared system.
This design lets each participant keep their own private records while still being able to trade safely with others on the network. Canton currently processes over 500,000 daily transactions, according to network data as of September 30, 2025.
Other validators include Mastercard, Bank of America, Galaxy Digital, Citadel, and Nasdaq. The network is managed by the Global Synchronizer Foundation, which was created under the Linux Foundation in 2024.
By purchasing Canton Coin and taking on the role of a Super Validator, Tharimmune will help keep the network running smoothly and verify transactions directly. Each transaction fee on the network is paid in CC and subsequently burned, while new coins are minted as rewards for validator activity.
The investment positions Tharimmune alongside major institutions that are bridging traditional finance with blockchain systems. The firm intends to fund the development of applications that promote scalability and institutional use within the Canton ecosystem, aiming to connect capital markets through privacy-preserving and programmable infrastructure.
Traditional Finance Moves Toward Blockchain
Tharimmune’s move comes as more traditional institutions adopt blockchain-based asset models. Data from RWA.xyz shows tokenized assets now exceed $35.75 billion in total value, including $18.4 billion in private credit, $8.7 billion in U.S. Treasury debt, and $3 billion in commodities.
Similar initiatives have recently come to light. Ondo Finance launched a tokenized U.S. Treasury fund on the XRP Ledger earlier this year, providing bond exposure and stablecoin redemption options.
Tharimmune’s strategy expands on this trend by combining a regulated biotech entity with blockchain-based treasury management. Its dual approach, integrating validator operations and asset acquisition, marks a shift toward hybrid corporate models in which traditional and decentralized systems intersect.
The company’s stock jumped around 14% after the news and ended the day 8.4% higher on Nasdaq. This shows investors are showing strong interest in companies using blockchain, especially when major names like ARK Invest, Kraken, and Polychain Capital are backing them.
Tharimmune’s $540 million funding is one of the biggest steps taken by a company using blockchain to handle its finances. By purchasing Canton Coin and becoming a Super Validator, the company joins a small group linking traditional finance with decentralized technology. Its work with the Canton Foundation and major Wall Street firms highlights how fast blockchain is changing the global financial sector.