Blockchain and crypto services firm Paxos raises $300M in Series D funding

The funding will accelerate the growth of its financial market infrastructure platform; to date, Paxos has raised more than $500M and with a valuation of $2.4 billion...

Blockchain and crypto services firm Paxos raises $300M in Series D funding

Paxos, a blockchain and crypto-asset infrastructure platform, today announced it has closed a $300 million Series D round of funding. Oak HC/FT led the round, with participation from previous investors Declaration Partners, PayPal Ventures, Mithril Capital, Senator Investment Group, Liberty City Ventures, WestCap, and more.

The funds will be used to help Paxos continue investing in the development of enterprise-grade infrastructure while deepening its commitment to regulation, reliability, and security. The company will accelerate growth by hiring new team members across all functions, scaling its operations, increasing platform capacity, and investing in innovation.

Additional liquidity will be added across the platform to enhance the customer experience and increase utilization of its tokens. To advance the development of its regulated platform, Paxos also plans to establish the Paxos National Trust Bank, support its application for a Clearing Agency registration with the Securities and Exchange Commission, and pursue its Major Payment Institution license in Singapore.

Already in 2021, Paxos has achieved the following milestones:

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