Blockchain-based crypto services platform Paxos has added Bank of America, FTX, Founders Fund and Coinbase Ventures to a heavyweight list of investors in its $300 million Series D funding round, the firm said Thursday.
Oak HC/FT led the huge capital raise, which the nine-year-old company announced in late April, at a valuation of $2.4 billion. The round also included PayPal Ventures and Mithril Capital, among others. The firm has raised more than $540 million over multiple rounds.
The company noted that Bank of America joined the Paxos Settlement Service earlier this year. The platform uses blockchain technology to achieve same-day settlement of stock trades.
âWeâre defining this space and are excited to grow our enterprise solutions beside these market leaders,â Paxos CEO and co-founder Charles Cascarilla said in a press release.
Paxos started providing infrastructure for PayPalâs crypto service last year, which has extended to PayPalâs Venmo payments app. Credit Suisse, Revolut and Societe Generale are among other clients.
In an April interview with CoinDesk, Cascarilla called the latest round âconfidence capitalâ that would give customers certainty that Paxos would âbe around for the next five to 10 years.â
In a statement, Founders Fund partner Napoleon Ta called Paxos âa trusted operator in blockchain-based financial market infrastructure,â highlighting âits commitment to regulation, reliability and security for enterprises entering digital asset markets.â