Bitcoin
$42,391.84+2.08%
Ethereum
$2,906.25+2.50%
XRP
$0.940405+2.85%
Cardano
$2.35+5.99%
Polkadot
$30.46+3.81%
Stellar
$0.276738+0.57%
Dogecoin
$0.207898+2.19%
Chainlink
$22.65+1.72%
Uniswap
$19.37+1.48%
Cosmos
$41.02+8.29%
Polygon
$1.12+1.55%
Algorand
$1.75-1.68%
Litecoin
$151.20+3.47%
Bitcoin Cash
$510.91+2.58%
Wrapped Bitcoin
$42,455.55+2.37%
The Graph
$0.676969+0.97%
Filecoin
$61.98-1.22%
Tron
$0.091137+0.03%
Tezos
$7.31+20.22%
Ethereum Classic
$47.14+3.24%
Aave
$276.74+1.47%
Monero
$237.05+4.14%
NEO
$39.31+1.33%
EOS
$4.00+1.32%
IOTA
$1.24-0.34%
BitTorrent
$0.003253+1.53%
Bitcoin SV
$134.45+1.07%
Waves
$24.34-2.86%
Maker
$2,265.02+0.99%
Dash
$165.76+2.21%
Decred
$117.00+4.04%
Decentraland
$0.682639+2.49%
ICON
$1.56+1.23%
NEM
$0.147345+1.74%
Zcash
$110.17+1.56%
OmiseGO
$8.86+0.87%
Paxos Standard
$1.00-0.66%
Yearn Finance
$29,814.80+6.52%
NuCypher
$0.276791+3.97%
Ren
$1.06+11.45%
Qtum
$9.70+1.61%
Bitcoin Gold
$52.32+2.68%
Basic Attention Token
$0.643300+1.95%
Fetch.ai
$0.803036+7.40%
0x
$0.895457+2.48%
Kava.io
$6.02+7.19%
Bancor
$3.42+1.82%
Band Protocol
$7.40+1.97%
Siacoin
$0.014744+2.31%
Nano
$4.76+3.15%
Loopring
$0.379400+1.11%
Storj
$1.09+3.90%
Numeraire
$41.91+5.79%
Civic
$0.458276+1.12%
Lisk
$2.93+5.40%
Orchid
$0.319846+0.64%
PAX Gold
$1,758.30-0.11%
Enzyme
$134.28+2.81%
Augur
$20.87+1.74%
Aragon
$4.78+5.36%
district0x
$0.154077+7.89%
Kyber Network
$1.43+2.67%
SingularDTV
$0.001308+1.22%
Tether
$1.00-0.02%
USD Coin
$1.00-0.04%
Dai
$1.00-0.01%

Bank of America, Coinbase Ventures Invested in Paxos' $300M Funding Round

The blockchain-based crypto services firm is disclosing more big names from its latest funding round.

Jul 29, 2021 at 12:00 p.m. UTC
Updated Sep 14, 2021 at 1:32 p.m. UTC

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.

Oak HC/FT led the funding round, which the nine-year-old company announced in late April at a valuation of $2.4 billion. The round also included PayPal Ventures and Mithril Capital, among others. The firm has raised more than $540 million over multiple funding rounds.

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.”

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...