Tokenization · Ethereum · The Block
Canton-based trading service Cancore raises $7.2 million at $60 million token valuation
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Cancore, a Canton-based trading platform connecting assets on the network with liquidity on public blockchains, has raised $7.2 million in seed funding.
Key facts
- Since going live in April, Cancore has processed over $86 million across more than 160,000 trades, Rashid said, noting that revenue over that period was more than $700,000
- 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
- Cancore was founded in late 2025 and has 10 employees, mainly based in the UAE and Pakistan, Rashid said
- Rashid said Cancore charges a 0.5% fee on each side of a trade and adds 10% to Canton network fees
Summary
Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures and Proof of Talk backed the round. The round was raised at a $60 million fully diluted token valuation through simple agreements for future tokens, or SAFTs, for Cancore's planned CNRX token, Rashid said. Rashid said Cancore started talking to investors in June, formally began raising in July, and closed the round in mid-September. Cancore describes its platform as a "Liquidity OS for tokenized finance.