Cancore closes seed round at $60 million valuation to link Canton with public chains

Cancore, a startup building trading rails between the institution-focused Canton Network and public blockchains, has closed a seed round at a $60 million valuation. Six firms backed the round: Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures and Proof of Talk. Nobody formally led the deal. According to co-founder and CEO Wasif Rashid, speaking to The Block, Paper Ventures and dao5 took the biggest allocations. What Cancore actually does The company calls its product the “Liquidity OS for Tokenized Finance.” Technically, it is a non-custodial execution and settlement layer. It enables atomic trades between the Canton Network and public networks, including EVM chains and TRON. “Atomic” is the key word. A trade either completes fully on both sides or does not happen at all. There is no scenario where one party sends assets and the other side never arrives. To guarantee that, Cancore relies on cryptographic conditions similar to hash time-locked contracts, or HTLCs. These are locks that only open when both sides of a deal meet agreed conditions within a set window. If the conditions are not met, the trade unwinds. Assets also stay on their home chains. There are no wrap...