NEW YORK — Paxos, a financial technology company utilizing blockchain, has closed a $65 million Series B round of financing.
The round was led by existing investors including Liberty City Ventures, RRE Ventures, Jay Jordan and others. Paxos has now raised a total of $93 million in capital to date. The company is using the new resources to significantly scale operations and bring the delivery of modern day settlement solutions to the global capital markets.
“It is a crucial time in the financial markets. We are at an inflection point to reduce the risk in our financial system and free capital trapped by an archaic settlement system,” said Charles Cascarilla, CEO of Paxos. “Over the past three years, we have focused on building the right infrastructure to enable a modern-day settlement solution that will unlock capital, mobilize assets and create value.”
“This additional funding will further our goals to eliminate settlement risk and expand our product offerings across geographies,” added Andrew Chang, COO of Paxos. “We are continuing to invest in expanding our platform that simplifies our financial infrastructure, offers greater control and lays the foundation for the future.”