Cancore, a startup developing infrastructure for cross-chain trading, has closed a seed funding round at a valuation of $60 million. The round involved six investment firms: Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures, and Proof of Talk. There was no formal lead investor, with Paper Ventures and dao5 securing the largest allocations.
The company provides a non-custodial execution and settlement layer designed to link the institutional Canton Network with public blockchains, including EVM-compatible chains and TRON. The platform facilitates atomic trades using cryptographic conditions similar to hash time-locked contracts. This mechanism ensures that assets remain on their native chains without the need for wrapped tokens or third-party custodians.
Since the mainnet launch in April 2026, the platform has processed more than 125,000 trades. By mid-October 2026, total transaction volume exceeded $50 million. Performance data is publicly available via a Dune dashboard, which revealed that over 25% of the total volume occurred during an eight-day period in September 2026.
Cancore was co-founded by Wasif Rashid and Aleksei Sdvizhkov. Rashid brings approximately 10 years of experience in blockchain security, while Sdvizhkov has over 15 years of background in enterprise fintech.
