Paxos Funds Mounts to $540M So Far

Paxos Funds Mounts to $540M So Far

The extremely well-established financial technology company Paxos has grown in a very short period. In spite of such growth, it has proven itself with extensive financial blockchain services. Upon such thriving growth, many top firms and establishments have come forth to invest and fund Paxos.

The $300M Fundings

The New York-based financial technology services provider, Paxos started its Series D funding program. Upon this, all those who are interested to invest and fund for Paxos could participate themselves. Such external fundings are extremely vital for any successful firm to grow even further higher.

With a spawning growth in just a 9 years period, Paxos has established itself as the leading blockchain-based financial services provider. Furthermore, this has attracted many top firms across the world to come forth and invest in Paxos.

Moreover, many of those who came forth for the funding were usually those who were already clients of Paxos and who witnessed a good value of their services.

Accordingly, on Thursday Paxos revealed that it has received so far $300 million fundings upon its Series D fund program.

Also, Paxos revealed the major funders were, Bank of America, Coinbase, Founders Fund, and the cryptocurrency exchange FTX.

Moreover, the fund leader in terms of investments is the venture capital firm,  Oak HC/FT. In addition, other funding rounds saw firms like Paypal and Mithril Capital too. 

Amidst all this, Paxos also says so far it has gathered about more than $540 million on various different funding series.

Besides, the Bank of America which incorporated Paxos services into it last year also now took part as one of the major funders too.

The Paxos Trust Company

The Paxos Trust Company was established in New York, with New York as its headquarters too in the year 2012. The firm has proven itself over a short span by extending exclusive blockchain services in terms of financial technologies. Also, it adds in the digitization of assets, crypto leverages, brokerages, assets tokenization services, and other settlement services.

In addition Paxos’ most used blockchain turns out to be the Ethereum (ETH) blockchain for most of the financial-based services. 

In addition, the CEO of Paxos, Charles Cascarilla stated in an interview in April, that such strong fundings and capital will set Paxos on for the next 10 years to the minimum. 

A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.