Paxos snags major funding

The New York-based FinTech, which has now raised a total of $93 million, will use the cash to expand its operations, including providing blockchain-based services to financial institutions, as well as operating cryptocurrency exchange and custodian itBit.

“This additional funding will further our goals to eliminate settlement risk and expand our product offerings across geographies,” says Paxos COO Andrew Chang. “We are continuing to invest in expanding our platform that simplifies our financial infrastructure, offers greater control and lays the foundation for the future.”