Paxos Labs completes $12 million financing round, led by Blockchain Capital
According to Odaily, Paxos Labs has been spun off from the stablecoin issuer Paxos and raised $12 million, led by Blockchain Capital, with participation from Robot Ventures, family office Maelstrom, and DeFi developer Uniswap Labs. Paxos Labs co-founder Bhaumik Kotecha declined to disclose the valuation for this round. Paxos CEO Chad Cascarilla is also the CEO of Paxos Labs. Paxos Labs will primarily provide services for large enterprises to create and manage their own stablecoins. (Fortune)
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