Three privacy-focused blockchain networks - Arc, Canton, and Tempo - have collectively raised more than $1 billion in funding, each commanding valuations north of $10 billion combined. The investors aren't the usual crypto-native funds: BlackRock, Goldman Sachs, Visa, Deutsche Bank, and Stripe are all participating.
Circle's Arc network closed a $222 million token presale at a $3 billion fully diluted valuation. BlackRock and Apollo led the round. Arc represents Circle's bet that stablecoin settlement needs a dedicated privacy layer.
Canton Network is reportedly raising $300 million at a $2 billion valuation, led by a16z with Goldman Sachs and Citadel participating. Built by Digital Asset Holdings, Canton focuses on institutional asset tokenization with selective transaction data sharing.
Stripe-incubated Tempo pulled in $500 million at a $5 billion valuation. Visa and Deutsche Bank contributed. The move follows Stripe's acquisition of stablecoin platform Bridge last year, extending its thesis that programmable money needs programmable privacy.
Why Privacy Matters
Public blockchains like Ethereum offer full transparency, a dealbreaker for trading desks and treasuries. Privacy chains allow selective disclosure-data exists on-chain but access is permissioned. As stablecoin legislation like the GENIUS Act and STABLE Act advances in the U.S., institutional capital is pre-positioning into infrastructure.
Visa's $7 Billion Signal
Visa's stablecoin settlement pilot now runs at a $7 billion annualized rate across nine blockchains, including Arc and Canton. While a small fraction of Visa's $15 trillion in total payment volume, the inclusion signals privacy features are seen as production-ready and essential for scaling.