Paxos has received an investment of $ 300 million
|Slavomír Kaňuk|source|5287x
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Paxos has received an investment of $ 300 million

Paxos is a well-known company that is PayPal's main partner in the field of cryptocurrencies and blockchain. Shortly after the announcement of obtaining preliminary approval for the creation of the national trust bank, another round of capital raising with the designation - Series D was launched. Among others, PayPal Ventures, Declaration Partners, Mithril Capital and Senator Investment Group also joined.


Together, Paxos managed to raise up to $ 300 million, bringing the company's value to $ 2.4 billion. In the latest C Series, they managed to raise $ 142 million as a New York start-up. According to the plan, they want to use the obtained funds for the development of the company's infrastructure, the expansion of possibilities within the regulatory processes, security and also for the hiring of new necessary employees. Charles Cascarilla, co-founder and CEO, said demand for enterprise solutions has accelerated much faster than expected.


The company has taken the opportunities that the current market offers really seriously and has started many interesting activities. One of them is the establishment of Paxos National Trust Bank, which they plan to implement soon after obtaining prior approval. So far, only two companies with links to cryptocurrencies - Anchorage and Protego - have managed to obtain a similar license. Paxos has also asked the SEC to register a clearing agency, and they are working intensively in Singapore to obtain a license for a major payment institution.


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Paxos was founded in 2012 and in a few years they managed to achieve the position of an important player in this sector. They offer clients to tokenize, trade, store and settle digital assets. The company is also behind the release of two stablecoins - Paxos Standard, which is pegged to the US dollar, and PAX Gold, which is covered in gold. The key partner is certainly PayPal, whose users bring the purchase, sale and holding of cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).


Read also: SHARES OF WELL-KNOWN COMPANIES ARE HEADING CRYPTO EXCHANGE


They also see a huge opportunity in the application of blockchain technology to unregistered securities, shares of private companies and other types of investment products. According to Charles Cascarilla, they want to transform as many assets as possible and bring them into a world based on blockchain.

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