Paxos, a provider of blockchain infrastructure, confirmed that Bank of America, crypto exchange FTX, Coinbase Ventures, and Founders Fund took part in a Series D funding round which raised $300 million.
The funding round was led by Oak HC/FT. Other names that took part in the event were PayPal Ventures and Mithril Capital.
It was also confirmed that Bank of America joined the Paxos Settlement Service at an earlier date in 2021. The platform relies on blockchain technology to get same-day settlement of stock trades.
Paxos CEO and co-founder Charles Cascarilla declared: “We’re defining this space and are excited to grow our enterprise solutions besides these market leaders.”