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Paxos Labs Completes $12 Million Funding Round, Led by Blockchain Capital
Svmuu News Paxos Labs has been spun off from stablecoin issuer Paxos and raised $12 million. The round was led by Blockchain Capital, with participation from Robot Ventures, family office Maelstrom, and DeFi developer Uniswap Labs. Bhaumik Kotecha, co-founder of Paxos Labs, declined to disclose the valuation for this round. Chad Cascarilla, CEO of Paxos, also serves as the CEO of Paxos Labs. Paxos Labs will primarily act as a service provider for large enterprises to create and manage their own stablecoins. (Fortune)
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