Paxos, a blockchain infrastructure platform, has announced that Bank of America (BofA), Coinbase Ventures, Founders Fund and FTX joined its Series D funding round. The expansion of investors comes after Paxos announced it raised $300 million in the funding round led by Oak HC/FT.
Other investors, including Declaration Partners, PayPal Ventures and Mithril Capital also participated in the funding. The company said in an announcement, it has raised over $540 million in funding so far with the company's total valuation at $2.4 billion.
As iHodl reported in April, the funding round allows Paxos to accelerate growth by hiring new team members across all functions and scaling its operations. Earlier, Paxos became the first to maintain its current regulatory structure and also seek a new federal charter.
Paxos General Counsel & CCO, Daniel Burstein, noted that the OCC's approval indicates that Paxos' initial plans "meet their standards." Now, the company will execute on those plans to create the National Trust Bank.
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