Artificial Intelligence | News | Insights | AiThority
[bsfp-cryptocurrency style=”widget-18″ align=”marquee” columns=”6″ coins=”selected” coins-count=”6″ coins-selected=”BTC,ETH,XRP,LTC,EOS,ADA,XLM,NEO,LTC,EOS,XEM,DASH,USDT,BNB,QTUM,XVG,ONT,ZEC,STEEM” currency=”USD” title=”Cryptocurrency Widget” show_title=”0″ icon=”” scheme=”light” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ custom-css-class=”” custom-id=”” css=”.vc_custom_1523079266073{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”]

Paxos Raises $142 Million in Series C Funding

Paxos, the first regulated blockchain infrastructure platform, announced it has closed a $142 million Series C round of funding. Declaration Partners, the investment firm backed by the family office of David M. Rubenstein, led the round, which includes investments from Mithril Capital, PayPal Ventures, RIT Capital Partners plc, Ken Moelis, Alua Capital, Senator Investment Group and more. Previous Paxos investors also participated in the round, including RRE Ventures and Liberty City Ventures. To date, Paxos has raised more than $240 million in funding.

Charles Cascarilla, CEO and Co-Founder of Paxos, commented, “In the last year, global adoption of crypto and blockchain-based solutions by enterprises has accelerated. We are proud to count among our clients global leaders in payments, banking, trading and fintech, such as PayPal, Credit Suisse, Societe Generale and Revolut. Paxos is uniquely positioned to address the digital asset needs of global brands and bring our solutions to enterprises with trillions in assets and billions of end users. We are grateful for the support of our new investment partners which helps bring us closer to our vision for a more open, accessible economy.”

Recommended AI NewsCyclotron Helps a Large Healthcare Company to Migrate from Google Workspace to Microsoft 365

Paxos will continue investing in developing enterprise-grade infrastructure solutions while deepening its commitment to regulation, reliability and security. Paxos will use this capital to accelerate growth, including scaling its operations and platform capacity to meet the demands of its expanding customer base. The company plans to double the size of its team and will explore all opportunities for growth.

Brian Stern, Partner, Declaration Partners, said, “Paxos is executing on its ambitious, long-term mission at a remarkable pace. Through its relentless forward-thinking, Paxos has developed products and services that enable trusted access to digital assets, as well as dramatic efficiency and risk reduction to our traditional financial industry infrastructure. We are thrilled to support its continued growth and development of these innovative and inclusive solutions.”

Related Posts
1 of 40,707

“Paxos is a truly unique platform,” said Ajay Royan, Managing General Partner of Mithril Capital, “Chad Cascarilla and the Paxos team have pioneered a long-term approach that combines regulatory rigor with exceptional product engineering, enabling millions to seamlessly access the flexibility and choice afforded by an open, efficient, and user-centric financial infrastructure.”

Recommended AI NewsActiv Technologies Expands PaaS Offering and Enhances Key Operational Visibility and Reporting

Since the creation of blockchain technology, Paxos has been an industry pioneer at increasing trust and transparency. In 2020, it drove greater acceptance of digital assets by institutional audiences with recent achievements including:

  • The launch of Paxos Crypto Brokerage, a platform solution that powers crypto services for PayPal and Revolut US;
  • The issuance of more than $7.5 billion in stablecoins across three of the leading US dollar-backed stablecoins;
  • Becoming the first company to settle US equity trades on a blockchain outside of the legacy system (under No-Action relief from the US Securities and Exchange Commission staff); and
  • Confirmation of more than $3.5 trillion in commodities trades with its Post-Trade automation service.

Recommended AI NewsIndustrial Bank of Korea and Nuance Create First Biometrics Solution for Banking Video Calls

2 Comments
  1. Iron recovery says

    Metal waste sorting center Ferrous material sellers Iron refining

    Ferrous material baling, Iron reclamation facility, Metal scraps reclamation

  2. Copper scrap value chain says

    Copper scrap material testing Copper scrap purity testing Metal recycling and redistribution
    Copper cable recycling news, Metal reprocessing plant, Scrap copper annealing

Leave A Reply

Your email address will not be published.