Paxos Labs Secures $12M Strategic Round
Paxos Labs Secures $12M Strategic Round
Paxos Labs secures strategic round led by Blockchain Capital, accelerating development of Amplify Suite. The company offers platforms tools to convert digital assets into financial products.
Paxos Labs and Amplify Suite
Paxos Labs closed a $12 million strategic funding round led by Blockchain Capital, with participation from Robot Ventures, Maelstrom, and Uniswap. 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.
Amplify Suite Modules
- Earn: institutional-grade yields on digital assets
- Borrow: loans backed by digital assets
- Mint: issuance of white-label stablecoins
Paxos Labs' Mission and Vision
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.
Partners and Integrations
Among the first partners integrated into Amplify are Aleo, Hyperbeat, and Toku. 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.
Onchain Assets and Fintech
The use of onchain assets is becoming increasingly popular, with more than $180 billion in tokenization activity for the world’s largest financial institutions. This trend is expected to continue, with more companies looking to integrate blockchain technology into their financial products.
Key Takeaways
- Paxos Labs secures $12 million strategic funding round led by Blockchain Capital
- Amplify Suite accelerates development of onchain financial products
- Partnerships with Aleo, Hyperbeat, and Toku integrate Amplify Suite
- Paxos Labs extends mission toward onchain product layer
Frequently Asked Questions
What is Paxos Labs' mission?
Paxos Labs' mission is to extend its decade-long experience building trusted infrastructure for digital assets toward the onchain product layer.
What is Amplify Suite?
Amplify Suite is a stack composed of three modules: Earn, Borrow, and Mint, designed to help platforms convert digital assets into financial products.
