Paxos Labs closed a $12 million strategic funding round led by Blockchain Capital, with participation from Robot Ventures, Maelstrom and Uniswap. The company offers platforms the tools to convert digital assets into active financial products through a single integration.
The funds will accelerate development of Amplify Suite, a stack composed of three modules: Earn, for institutional-grade yields on digital assets; Borrow, for loans backed by digital assets; and Mint, for the issuance of white-label stablecoins. All three modules are already operational.
Chad Cascarilla, CEO of Paxos, noted that the company has spent more than a decade building trusted infrastructure for digital assets, with more than $180 billion in tokenization activity for the world’s largest financial institutions. For Cascarilla, Paxos Labs is the extension of that mission toward the onchain product layer.
Spencer Bogart, general partner at Blockchain Capital, highlighted that the infrastructure problem is largely solved and that the biggest open space in fintech today is what users and platforms do with those onchain assets. Among the first partners integrated into Amplify are Aleo, Hyperbeat and Toku.
Source: https://x.com/paxoslabs/status/2044048832309375394
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