Draft:Paxos Trust Company

Paxos Raises $142 Million in Series C Funding

Retrieved on: 
Thursday, December 17, 2020

NEW YORK, Dec. 17, 2020 /PRNewswire/ --Paxos, the first regulated blockchain infrastructure platform, today announced it has closed a $142 million Series C round of funding.

Key Points: 
  • NEW YORK, Dec. 17, 2020 /PRNewswire/ --Paxos, the first regulated blockchain infrastructure platform, today announced it has closed a $142 million Series C round of funding.
  • To date, Paxos has raised more than $240 million in funding.
  • Charles Cascarilla, CEO and Co-Founder of Paxos, commented, "In the last year, global adoption of crypto and blockchain-based solutions by enterprises has accelerated.
  • Paxos will continue investing in developing enterprise-grade infrastructure solutions while deepening its commitment to regulation, reliability and security.

Societe Generale Begins Settling U.S. Securities Trades through Paxos Settlement Service

Retrieved on: 
Wednesday, September 9, 2020

Paxos Settlement Service is a private, permissioned blockchain solution designed to allow two parties to bilaterally settle securities trades directly with each other.

Key Points: 
  • Paxos Settlement Service is a private, permissioned blockchain solution designed to allow two parties to bilaterally settle securities trades directly with each other.
  • Paxos is operating the service under No-Action relief from the staff of the U.S. Securities and Exchange Commission (SEC).
  • The Paxos Settlement Service can reduce ongoing costs associated with settlement and unlock capital tied up in the legacy settlement system.
  • Paxos can operate the Paxos Settlement Service with a total of seven broker-dealer clients under No-Action relief.