# Paxos Trust Company

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/paxos-trust-company

- Industry: Financial Services
- Headquarters: New York, US
- Website: www.paxos.com/
- Total disclosed funding: $535M
- Latest round: Series D (Apr 29, 2021)
- Investors on record: 19

## About

Founded in 2012 and based in New York, US, Paxos Trust Company, LLC is a blockchain infrastructure platform that allows people to purchase, sell, trade, and manage assets. Charles Cascarilla (CEO) and Richmond Teo are the co-founders of the company. In April 2022, Paxos Trust Company, LLC, raised USD 300 million in Series D funding from Oak HC/FT, including Declaration Partners, PayPal Ventures, Mithril Capital, Senator Investment Group, Liberty City Ventures, and WestCap, valuing the company at USD 2.4 billion. In February 2024, Fordefi raised USD 10 million in seed funding led by Electric Capital, Paxos, and Alchemy.

The company offers a portfolio of products, including crypto brokerage, securities settlement, stablecoin and payments, commodities settlement, and itBit. The firm's technologies aid in the development of infrastructure to enable the movement of physical and digital assets, as well as in the provision of custodial services, digital transformation, and fund mobility services, allowing enterprises to tokenize, custody, trade, and settle assets. Paxos’ offerings also include stablecoin and payment solutions, including PYUSD, USDP, PAXG, and BUSD,which offer stability and legal protection crucial for financial transactions. The company partners with PayPal and launches blockchain solutions.

## Funding rounds

- Series D, Apr 29, 2021, $300M — Founders Fund, Bank of America, Mithril, Liberty City Ventures, Oak HC/FT, Senator Investment Group, Coinbase Ventures, PayPal Ventures, Declaration Partners, FTX Trading Ltd., Westcap Management
- Series C, Dec 16, 2020, $142M — RRE Ventures, RIT Capital Partners, Mithril, Liberty City Ventures, Senator Investment Group, PayPal Ventures, Declaration Partners, Alua Capital Management
- Series B, May 31, 2018, $65M — RRE Ventures, Liberty City Ventures
- Series A, May 7, 2015, $25M — RRE Ventures, Raptor Capital Management, Liberty City Ventures, Blockchain Capital, Solon Mack Capital
- Seed, Nov 11, 2013, $3.3M — RRE Ventures, Canaan Partners, Liberty City Ventures, Digital Currency Group

## Investors

- RRE Ventures (https://capitalatlas.ai/funds/rre-ventures) — Seed, Series A, Series B, Series C
- Canaan Partners (https://capitalatlas.ai/funds/canaan-partners) — Seed
- Liberty City Ventures (https://capitalatlas.ai/funds/liberty-city-ventures) — Seed, Series A, Series B, Series C, Series D
- Digital Currency Group (https://capitalatlas.ai/funds/digital-currency-group) — Seed
- Raptor Capital Management (https://capitalatlas.ai/funds/raptor-capital-management) — Series A
- Blockchain Capital (https://capitalatlas.ai/funds/blockchain-capital) — Series A
- Solon Mack Capital — Series A
- RIT Capital Partners — Series C
- Mithril (https://capitalatlas.ai/funds/mithril) — Series C, Series D
- Senator Investment Group (https://capitalatlas.ai/funds/senator-investment-group) — Series C, Series D
- PayPal Ventures (https://capitalatlas.ai/funds/paypal-ventures) — Series C, Series D
- Declaration Partners (https://capitalatlas.ai/funds/declaration-partners) — Series C, Series D
- Alua Capital Management — Series C
- Founders Fund (https://capitalatlas.ai/funds/founders-fund) — Series D
- Bank of America — Series D
- Oak HC/FT (https://capitalatlas.ai/funds/oak-hc-ft) — Series D
- Coinbase Ventures (https://capitalatlas.ai/funds/coinbase-ventures) — Series D
- FTX Trading Ltd. — Series D
- Westcap Management (https://capitalatlas.ai/funds/westcap-management) — Series D