Paxos – a provider of blockchain infrastructure – said Bank of America, crypto exchange FTX, Founders Fund and Coinbase Ventures were among a heavyweight list of investors in its $300 million Series D funding round, the firm disclosed on Thursday.
The company noted that Bank of America joined the Paxos Settlement Service earlier this year. The platform uses blockchain technology to achieve same-day settlement of stock trades.
"We’re defining this space and are excited to grow our enterprise solutions beside these market leaders,” Paxos CEO and co-founder Charles Cascarilla said in a press release.
Paxos started providing infrastructure for PayPal's crypto service last year, which has extended to PayPal’s Venmo payments app. Credit Suisse, fintech Revolut and Societe Generale are among other customers.
In an April interview with CoinDesk, Cascarilla called the latest funding round “confidence capital” that would give customers certainty that Paxos would “be around for the next five to 10 years.”
In a statement, Founders Fund partner Napoleon Ta called Paxos “a trusted operator in blockchain-based financial market infrastructure,” highlighting “its commitment to regulation, reliability and security for enterprises entering digital asset markets.”
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