WORLDTECHCancore raises $7.2 million seed round at $60 million valuation for Canton trading layer
Cancore, a trading platform that connects assets on the Canton Network with liquidity on public blockchains, has raised $7.2 million in seed funding at a $60 million valuation. The round gives the startup capital to build trading rails between the institution-focused network and public chains.
Who backed the funding round
Six firms took part in the seed round: Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures and Proof of Talk. Co-founder and CEO Wasif Rashid, speaking to The Block, said that Paper Ventures and dao5 received the biggest allocations.
A seed round is an early stage of company funding, and the $60 million valuation places the company at that stage.
How the trading layer operates
Cancore calls its product a Liquidity OS for Tokenized Finance. Technically, it operates as a non-custodial execution and settlement layer that makes atomic trades possible between the Canton Network and public networks, including EVM chains and TRON.
The mechanism relies on locks that open only when both sides of a deal satisfy agreed conditions inside a fixed window. If those conditions go unmet, the trade is reversed. Assets stay on their home chains, with no wrapped tokens and no custodians holding funds in escrow.
Activity reported so far
Cancore reports more than 125,000 trades across its supported networks and publishes its performance figures on a public Dune dashboard, which allows outsiders to check them. Activity has been uneven, with more than 25% of lifetime volume falling inside a single eight-day window in September 2026.
The company is listed as a Featured App on Canton. Rashid co-founded Cancore with Aleksei Sdvizhkov.
Open questions
- Will trading volume keep growing outside the single peak window?
- How will the company deploy the new funding?