Blockchain and Crypto Services Company Paxos Raises $ 300 Million in Series D Funding »CryptoNinjas

Paxos, a blockchain and crypto asset infrastructure platform, announced today that it has closed a $ 300 million Series D funding round. Oak HC / FT led the round, with participation from past investors Declaration Partners, PayPal Ventures, Mithril Capital, Senator Investment Group, Liberty City Ventures, WestCap and more.

The money will be used to help Paxos continue to invest in enterprise-grade infrastructure development while deepening its commitment to regulation, reliability and security. The company will accelerate growth by hiring new team members for all functions, scaling operations, increasing platform capacity and investing in innovation.

Additional liquidity will be added on the platform to improve the customer experience and increase the usage of its tokens. To continue the development of its regulated platform, Paxos also plans to establish the Paxos National Trust Bank, support its application for a Clearing Agency registration with the Securities and Exchange Commission and its Major Payment Institution license in Singapore to pursue.

As early as 2021, Paxos has reached the following milestones:

  • Supported the launch of cryptocurrency buying and selling services on Venmo through the partnership with PayPal;
  • Received conditional approval for first de novo Trust Bank digital asset charter from Office of the Comptroller of the Currency;
  • Same-day settlement of shares traded for Instinet and Credit Suisse through the Paxos Settlement Service completed;
  • Stablecoin’s total assets across three of the leading stablecoins backed by the US dollar to nearly $ 10 billion; and
  • Tokenized over 100,000 oz of the highest investment grade gold with PAX Gold.

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