Cancore Raises $7.2M at $60M Token Valuation to Bridge Canton RWAs With Public Chains
By Crypto Wire
October 27, 2026
Cancore, a Canton-based trading platform that connects assets on the institution-focused network with liquidity on public chains, has raised $7.2 million in seed funding at a $60 million fully diluted token valuation, co-founder and CEO Wasif Rashid told The Block in an October 27 exclusive. The round was raised entirely through SAFTs for Cancore’s planned CNRX token rather than as a stated equity valuation — a distinction that matters for anyone treating “$60 million” as a company mark instead of a token FDV print.
Paper Ventures and dao5 took the largest allocations among backers that also included ArkStream Capital, X Ventures, MH Ventures, and Proof of Talk. Rashid said there was no formal lead investor. Outreach began in June, formal fundraising in July, and the round closed in mid-September — so Tuesday’s story is the public disclosure of a closed SAFT book, not a same-day wire of fresh capital hitting the wallet.
Cancore brands itself a “Liquidity OS for tokenized finance.” Rashid’s pitch to The Block is concrete utility language, not a vague bridge meme: connect assets on Canton — including tokenized real-world assets — with stablecoins and DeFi liquidity elsewhere, then settle trades under predefined rules without manual back-office hops. The platform has been live on Canton mainnet since April, with products named Cancore Trade for cross-network trading and Cancore Wallet for self-custody key control.
Chain coverage already spans Canton, Ethereum, Arbitrum, BNB Chain, Robinhood Chain, and Tron. Rashid said Cancore plans to add Base and Solana, with Solana gated behind an external security audit, and that the team also plans to bring more tokenized assets onto Canton. For NFT and crypto desks that already clear secondary on Robinhood Chain or Ethereum venues, that roster is the practical map — not a promise that every RWA listing is live for retail collectors tomorrow.
Operating receipts since April are the utility check collectors can weigh against the raise. Rashid told The Block Cancore has processed more than $86 million across more than 160,000 trades and more than $700,000 in revenue over that period. Fee math is named: 0.5% on each side of a trade, plus 10% added to Canton network fees, and 20% of liquidity-pool profits retained with 80% to LPs. Settlement framing is atomic — “Either the trade completes on both chains, or both parties are refunded” — with users able to trade via wrapped tokens or separate bridge validators without surrendering asset control, per Rashid.
Cancore also runs a Canton validator and has locked 5 million CC tokens under CIP-0116, Rashid said. Competitors he named include LayerZero, Wormhole, Squid, and Canton-based DEXs; his differentiation claim is bundling trading, settlement, and AI automation rather than messaging alone. The planned CNRX token still has no launch timeline in the interview — staking is pitched for lower trading fees and higher limits on trading and AI tools, with separate benefits for liquidity providers. Treat CNRX as a SAFT promise until a dated launch or TGE notice lands.
Company context stays lean. Cancore was founded in late 2025, employs about 10 people mainly in the UAE and Pakistan, and plans hires across engineering, security, AI infrastructure, and institutional business development. Rashid previously co-founded blockchain security firm BlockApex, which he said completed more than 125 audits and helped secure over $3.2 billion in assets — useful founder color, not an independent audit of Cancore’s live rails.
Keep this chapter separate from Tuesday’s other institutional prints. Ripple and BNY’s custody-and-trade-finance expansion and Crypto.com’s U.S. crypto perpetuals rollout are different rails and product books. Today’s unused primary is Cancore’s disclosed $7.2 million SAFT seed at a $60 million CNRX FDV, aimed at moving Canton tokenized assets against public-chain liquidity with named volume and fee receipts already in the interview.
Utility check: The raise and the April–present volume/revenue figures are live interview claims with named backers; Base/Solana expansion, broader Canton RWA listings, and the CNRX launch remain forward plans without dated product pages in Tuesday’s exclusive — treat those as pending until Cancore posts audit-gated chain adds or a TGE clock.
Bottom line: Cancore disclosed a $7.2 million SAFT seed at a $60 million CNRX token valuation to deepen Canton-to-public-chain liquidity for tokenized assets, with more than $86 million in reported trading volume since April.
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