Paxos, Firm Powering PayPal’s Crypto Service, Raises $142M
Paxos has raised $142 million to facilitate mainstream adoption. “We think that opportunity is now,” said CEO Charles Cascarilla.
Bitcoin hit another all-time high today while ether traders are paying royally to get in on the options action.
The CEO would not confirm whether his company was ever in talks with PayPal, saying BitGo is "in talks with everyone."
PayPal Ventures, Coinbase Ventures and Winklevoss Capital invested an undisclosed amount in the firm.
Previously, Cash App had only allowed clients to get U.S. currency back on transactions.
Mizuho sees bitcoin not as a source of revenue itself, "but as a vehicle to boost engagement on the app," and that could drive revenue growth.