Crypto News: DRW and Liberty City Lead $540M Push Into Tokenized Finance

Under the newly announced subscription agreement, the two firms will inject roughly $540 million into Tharimmune through a private placement priced at $3.075 per share. The transaction is set to close around November 6, marking one of the largest token-related corporate financing efforts of 2025.

Building a Public Gateway for Digital Tokens

Tharimmune’s new focus is centered on Canton Coin, the native token of the Canton blockchain, which was developed by Digital Asset Holdings – a company backed by major financial players including Goldman Sachs, Citadel Securities, and DRW itself. The blockchain aims to serve as a fully regulated infrastructure for institutional-grade financial transactions, blending the transparency of public ledgers with the compliance frameworks of traditional finance.

By acquiring and holding Canton Coins, Tharimmune will operate similarly to a digital asset treasury company, a model inspired by Michael Saylor’s Strategy, the largest corporate holder of Bitcoin. Like Saylor’s firm, Tharimmune aims to give investors indirect exposure to blockchain assets through traditional equity markets.

Growing Institutional Interest

This latest investment marks a continuation of a trend where Wall Street trading firms are seeking structured, publicly listed vehicles to participate in blockchain ecosystems. Earlier this year, DRW and Liberty City joined a $135 million funding round for Digital Asset alongside other financial heavyweights.

Shares of Tharimmune jumped 4.6% on Monday in New York after the deal was announced, signaling investor enthusiasm for the company’s pivot toward blockchain-based assets. Bloomberg first reported last week that the two firms were in discussions to raise around $500 million for a listed token investment vehicle.

Token Treasuries on the Rise

With the Tharimmune initiative, DRW and Liberty City are positioning themselves among a growing circle of companies holding blockchain tokens as strategic reserves. Industry observers view such moves as a bridge between traditional markets and the token economy – allowing investors to access blockchain exposure without directly holding cryptocurrencies.

The model has proven effective for companies like Strategy, whose Bitcoin-heavy balance sheet transformed it into a Wall Street proxy for the world’s largest cryptocurrency. Tharimmune, by contrast, could become the first major publicly traded firm to hold Canton Coins, giving institutional investors a regulated channel into one of the most ambitious blockchain networks designed for finance.

If successful, the venture could mark the beginning of a new wave of tokenized corporate treasuries – and a deeper merging of public markets with the infrastructure of decentralized finance.

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