PayPal crypto partner Paxos raises $300M

Paxos, a major cryptocurrency company and PayPal’s crypto collaborator, has completed a massive fundraising round shortly after receiving preliminary approval to form a national trust bank.

On Thursday, the firm announced a new $300-million Series D funding round bringing Paxos’ valuation to $2.4 billion. The new funding round included previous Paxos investors — PayPal Ventures, Declaration Partners, Mithril Capital, Senator Investment Group, Liberty City Ventures, WestCap and others.