Billionaire Rubenstein Invests in Paxos

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David Mark Rubenstein, co-founder of the The Carlyle Group private equity and asset management firm with some $200 billion in assets under management, has led a $142 million series C round in crypto platform Paxos. Rubenstein himself is believed to be worth some $3.2 billion, with this investment made by Declaration Partners which is backed by the family office of David M. Rubenstein. “Paxos is executing on its ambitious, long-term mission at a remarkable pace,” Brian Stern, Partner at Declaration Partners, said in a statement before adding: “Through its relentless forward-thinking, Paxos has developed products and services that enable trusted access to digital assets, as well as dramatic efficiency and risk reduction to our traditional financial industry infrastructure.” Paxos provides brokerage services, an exchange through itBit, custody, settlement as well as a tokenized dollar with it claiming to have as clients PayPal, Credit Suisse, Societe Generale, StoneX, Revolut and many…

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