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)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Indonesian Rupiah: External headwinds and MSCI risks – OCBC
Taiwan Dollar: Strong fundamentals but near-term pressure – Commerzbank
Hassett Downplays AI Debt Risk: The Industry Has Sufficient Funds, No Risk of Broad Sell-Off
Kevin Hassett, Director of the White House National Economic Council, stated that the recent substantial decline in technology stocks does not indicate a comprehensive sell-off risk for the AI industry. He acknowledged that some enterprises are indeed burdened with significant debt, which warrants attention. However, he also pointed out that there are many financially strong companies within the industry that hold both equity and debt in related firms; these companies may be poised to acquire or provide funding support when opportunities arise.
Crypto prices
More
