Paxos, a licenced financial institution developing infrastructure to enable the movement of physical and digital assets, has announced the addition of significant investors to its Series D round of funding, including Bank of America, Coinbase Ventures, Founders Fund, and FTX.
This comes after Oak HC/FT announced a $300 million Series D investment round on April 29, 2021, with participation from previous investors Declaration Partners, PayPal Ventures, Mithril Capital, and others. The company has raised around $540 million in investment so far.
The company is one of the world’s fastest-growing fintech firms, with a valuation of $2.4 billion.
The Paxos interface allows global fintechs and financial institutions to use digital assets on a large scale.
Bank of America joined the Paxos Settlement Service earlier this year, a private, permissioned blockchain infrastructure solution aimed at improving the US equities settlement system’s transparency and efficiency.
“In a dynamic space, Paxos has distinguished itself as a leader in transparency and trustworthiness by building innovative enterprise products. We believe Paxos will unlock significant value by facilitating the mainstream adoption of crypto and blockchain technology.” — Napoleon Ta, Partner at Founders Fund.
Since April, Paxos has collected more than $300 Million funding and still counting, confirmed by bitcoinnews.com. The four major firm’s funding will boost up the financial structure of the respected firm.
Paxos, which was founded in 2012, is on a mission to modernise finance by allowing assets to be mobilised at the speed of the internet. The startup wants to democratise access to a new, global, frictionless economy by making it easy to move any asset anywhere, instantaneously. PayPal, Bank of America, Credit Suisse, Societe Generale, and Revolut are among the companies that it works with to develop enterprise blockchain solutions.
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