BlocksInform
Today New York-based Paxos announced it raised $300 million in a Series D round valuing it at $2.4 billion. It raised $142 million for its Series C a little over four months ago. While Paxos is mostly known in the cryptocurrency industry, it has big ambitions in payments and settlement.
They offer a stablecoin-as-a-service offering as well as cryptocurrency brokerage for PayPal and Venmo. It provides crypto brokerage for the PayPal and Venmo cryptocurrency offerings and has a stablecoin-as-a service offering. Credit Suisse and Nomura's Instinet have recently disclosed using the solution for T-0 settlement.
But it also has a permissioned blockchain post-trade solution to settle U.S. stock trades. Nomura’s Instinet and Credit Suisse recently disclosed using the solution for T+0 settlement. Charles Cascarilla, CEO and Co-Founder of Paxos, said that demand for enterprise solutions has skyrocketed much more rapidly than he had anticipated. We believe the service confirms our mission to provide the most innovative and regulated enterprise solutions to serve as a platform for the replatforming of the financial system and the creation of the digital economy of the future.
Its aim is to become an important financial market infrastructure. To that end, its Trust Bank charter for digital assets recently received conditional approval from the Office of the Comptroller of the Currency.
Moreover, the company has applied for a Major Payment Institution license in Singapore, and the latest funding has brought the total raised to over $540 million. Among other investors, Declaration Partners, Mithril Capital, Senator Investment Group, Liberty City Ventures, and WestCap contributed to this round. Image Copy right: Grey82 / BigStock Photo. New York-based Paxos announced today it committed $300 million to a Series D round, valuing it at $2.4 billion.
The site raised $142 million for its Series C a few months ago. While Paxos is mostly known in the cryptocurrency industry, it has big ambitions in payments and settlement.
