Canton Network supporters plan to raise $500 million to establish a listed entity to invest in Canton Coin

ChainCatcher news, according to Bloomberg, some supporters of Canton Network are in talks to raise about $500 million to establish a publicly listed entity for investing in the bank-backed blockchain token Canton Coin.

The entity also plans to operate the network as a super validator and develop related applications. DRW Holdings and Liberty City Ventures will contribute the majority of the funds in Canton Coin, with an additional $100 million to $200 million expected from external investors. Sources say that Liberty City Ventures Managing Director Mark Toomey will serve as the entity's president, while former DRW Chief Operating Officer Mark Wendland will take on the role of CEO.