Paxos Labs has just completed a $12 million Capital round led by Blockchain Capital, with participation from Robot Ventures, Maelstrom, and Uniswap Labs.
This is a startup spun off from Paxos, the blockchain and cryptocurrency infrastructure company behind stablecoins , which has long-standing partnerships with organizations like PayPal and Nubank.
The focus is on DeFi infrastructure.
Paxos Labs provides DeFi infrastructure to support businesses in bringing stablecoin and cryptocurrency lending services to individual users.
The company also develops software tools that help organizations issue their own branded stablecoins, while allowing users to participate in on-chain lending and Staking using stablecoins.
Customers and business plan
Paxos Labs co-founder Bhaumik Kotecha said the company expects to Capital by the end of this year.
The company is currently serving the neobank Hyperbeat and the blockchain security team Aleo .
