Paxos Raises Series D Funding From PayPal Ventures And Others

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Today, blockchain infrastructure company Paxos closed a $300 million Series D round of funding, one of the largest ever among cryptocurrency and blockchain startups New Raise Is To Help Scale Operations Paxos, a major cryptocurrency corporation and PayPal’s crypto partner, has completed a huge fundraising round shortly after securing tentative approval to join a national trust bank. On Thursday, the company reported a new $300-million Series D funding round taking Paxos’ valuation to $2.4 billion. PayPal Ventures, Declaration Partners, Mithril Capital, Senator Investment Group, Liberty City Ventures, WestCap, and other previous Paxos investors participated in the new funding round. Paxos will use the newly raised funds to continue investing in enterprise-grade infrastructure, expand operations, and strengthen its commitment to regulation, security, and enforcement. Paxos also intends to create the Paxos National Trust Bank in the near future, following preliminary approval from the US Office of the Comptroller of the Currency…

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