Paxos Raises $300 Million in Series D Funding at $2.4 Billion Valuation
Today, the Office of the Comptroller of the Currency (OCC) announced that Paxos has received preliminary conditional approval of its application to establish a de novo national Trust Bank.
In 2021, Paxos will double the size of its team. We have a robust pipeline of sales opportunities and an ambitious product roadmap - these dynamics present exciting new challenges…
Of the five main attributes of money, openness is the most important one because it dictates the limit on how many participants comprise the network and therefore how much utility that network can serve. Today’s modern fiat banking system is the dominant system, yet it is still closed to billions of people around the world. Society stands to gain advantages in access, autonomy, privacy, greater innovation and lower fee structures with a more open system system.
Many people think regulation suffocates innovation in well-established markets, but that’s not the belief at Paxos. When you’re trying to build a new product in an existing, complex market, regulation can actually foster innovation.