Categories: Blockchain

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.”

Olivier Acuña

Olivier has been writing for over 30 years. He has been based in six countries working for major news outlets including the Guardian, UPI & AP. He has covered massive earthquakes, presidential elections, immigration, and taken photos standing in the middle of shootouts between drug cartels, gone undercover to investigate organised crime, interviewed presidents, former presidents, heads of international organisations.