Earlier today, we announced our $142 million Series C fundraise, which was a satisfying capstone to everything Paxos has achieved this year. Read ahead for our look-back on our biggest year ever. (Infographic ahead, followed by all the text from the image for accessibility.)
In 2020 alone, our tokenized assets (US dollar-backed stablecoins PAX, BUSD and HUSD, as well as gold-backed PAX Gold) grew 295%. This indicates a greater demand for asset-backed tokens that have real-world value and are mobile, global and 24/7.
January
Started the year with $406,460,608 in tokenized assets under custody
February
Launched Paxos Settlement Service with Credit Suisse, Instinet & Societe Generale.
April
Introduced the new Paxos account experience as a unified platform to seamlessly manage currency, crypto & gold.
June
Representing the industry, Paxos CEO & Co-Founder Charles Cascarilla testified to the US Senate Banking committee on the digitization of money.
July
- Added Bitcoin Cash & Litecoin to the Paxos wallet & itBit exchange.
- Launched Paxos Crypto Brokerage with Revolut US as a first client.
- Celebrated the anniversary of HUSD with more than $3 billion in total transactions.
August
Secured “Greenlist status” in New York so PAX, BUSD and PAXG can be offered by any NYDFS-licensed entity without regulatory approval.
September
- Celebrated the anniversary of BUSD with more than $3.8 billion in total transactions.
- PAXG trading launched on Binance, Gemini, BlockFi, Celsius, Nexo.
October
PayPal launches crypto buying, holding & selling powered by Paxos Crypto Brokerage.
December
- Charles Cascarilla featured as one of Coindesk’s Most Influential in 2020.
- Received SOC1 Type 2 certification.
- Named to CB Insights’ inaugural Blockchain 50 list.
- Raised $142 million in Series C funding, for a total of $240 million.
- Ended 2020 with $1.4 billion in tokenized assets under custody.
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Thank you for joining us on our trip down memory lane. Ready to look forward? Read this blog post on the Paxos strategy for 2021.