Wilson Sonsini Steers Fintech Paxos In $300M Funding Round

By Elise Hansen (April 29, 2021, 6:00 PM EDT) -- Paxos said Thursday it raised $300 million and earned a $2.4 billion valuation in a Wilson Sonsini Goodrich & Rosati PC-guided funding round, which was announced just days after the financial technology company received preliminary approval for a federal banking charter.

New York-based Paxos said it will use the funds to grow its team, boost its platform capacity and further develop its financial services technology. Paxos acts as a trust for physical and digital assets and uses blockchain technology to underpin transactions, according to its website.

It offers brokerage services, settlement services for U.S. equity trades, as well as a gold-backed...

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