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Paxos Adds Patricia Kemp and Scott Malpass to its Board of Directors

NEW YORK, May 27, 2021Paxos, the first regulated blockchain infrastructure platform, today announced it has added Patricia Kemp, Co-Founder and Managing Partner of Oak HC/FT, and Scott Malpass, former Vice President and Chief Investment Officer of the University of Notre Dame, to its Board of Directors. 

As seasoned executives in the financial services industry with significant expertise in investment strategy and portfolio management, Kemp and Malpass will provide unique insight and guidance as Paxos continues to differentiate itself as the most trusted operator in blockchain-based financial market infrastructure. 

Charles Cascarilla, CEO and Co-Founder of Paxos, commented, “A hallmark of our Board is that it features leaders experienced in managing complex regulatory and financial environments. Tricia and Scott bring unique expertise that adds a new dimension that will drive significant impact across Paxos as we serve more sophisticated global enterprises.”

Patricia Kemp said, “With its commitment to regulatory compliance and oversight, we believe Paxos has the ability to revolutionize the global financial system and power the future digital economy. I’m thrilled to join the Board and work closely with the team to position Paxos as the world’s preeminent blockchain infrastructure provider.” 

Scott Malpass added, “Paxos has built the tokenization platform, custodial services and regulated framework to facilitate the mainstream adoption of digital assets by the world’s largest financial institutions. It is now crucial the public understands the importance of upgrading financial infrastructure and sees the benefits of partnering with a company like Paxos. I’m excited to join the Board and guide the team as it drives critical innovations in financial services.” 

Paxos recently announced the close of a $300 million Series D round of funding from Oak HC/FT, Declaration Partners, PayPal Ventures, Mithril Capital, Senator Investment Group, Liberty City Ventures, WestCap and more. To date, Paxos has raised more than $500 million in total funding. With this funding, and the addition of Kemp and Malpass to its Board, Paxos is well positioned to accelerate the growth of its financial market infrastructure platform. 

About Patricia Kemp

Patricia Kemp is Co-Founder and Managing Partner of Oak HC/FT, where she invests in growth equity and early-stage FinTech companies. She is also a contributor to Forbes, where she writes about FinTech trends impacting the financial services industry. Patricia has appeared on Institutional Investor’s FinTech Finance 40 list, Innovate Finance’s Women in FinTech Powerlist, and PaymentSource’s Most Influential Women in Payments list.

Patricia currently serves on the Boards of FastPay, Feedzai, Insureon, Kasisto, NextCapital, Paxos, Rapyd, and Urjanet, and is actively involved with Kryon and Pagaya. Prior investments include Poynt (acquired by GoDaddy), Argus Information & Advisory Services (acquired by Verisk Analytics), NetSpend Corporation (acquired by TSYS), Point Carbon (acquired by Thomson Reuters), TxVia (acquired by Google), and Vesta Corporation.

Prior to founding Oak HC/FT, Patricia served as a venture partner at Oak Investment Partners, which she joined in 2002. Earlier, she spent more than 13 years in senior management roles at Cendant (formerly CUC International). Patricia has also previously held positions at Hewlett Packard and Merrill Lynch. She received her Bachelor of Arts and MBA from Stanford University.

About Scott Malpass

Scott C. Malpass is the former vice president and chief investment officer of the University of Notre Dame, where he also served as an assistant professor of finance at the University’s Mendoza College of Business. Under Malpass’s leadership, the Notre Dame endowment pool grew from $400 million in 1988 to more than $14 billion as of June 30, 2020. Over Malpass’s 32 years of leadership, the Notre Dame Endowment achieved top-tier investment performance, among the highest in the profession, transforming opportunities at the University in all aspects of academic and student life. He is currently a member of the Board of Directors of Vanguard and the Catholic Investment Services, Inc. He is also a member of the board of superintendence of the Institute for the Works of Religion in Vatican City, commonly referred to as the Vatican Bank. Malpass is a 1984 graduate of Notre Dame and received a master of business administration degree from the University in 1986.

About Paxos

Paxos is the first regulated blockchain infrastructure platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. Today, trillions of dollars are locked in inefficient, outdated financial plumbing that is inaccessible to millions of people. Paxos is building a new system that allows assets to move instantaneously, anywhere in the world, at any time, in a trustworthy way.

Paxos uses technology to tokenize, custody, trade and settle assets. It offers crypto solutions for enterprises, crypto trading and settlement solutions for securities and commodities. Paxos customers include global enterprises PayPal, Bank of America, Credit Suisse, Societe Generale, StoneX and Revolut. Paxos is a top-funded fintech company with more than $540 million raised from leading investors including Oak HC/FT, Declaration Partners, Mithril Capital and PayPal Ventures. With offices in New York, London and Singapore, Paxos takes a global approach to modernizing the financial system.

About Oak HC/FT

Founded in 2014, Oak HC/FT is the premier venture growth-equity fund investing in Healthcare Information & Services (“HC”) and Financial Services Technology (“FT”). With $3.3 billion in assets under management, we are focused on driving transformation in these industries by providing entrepreneurs and companies with strategic counsel, board-level participation, business plan execution and access to our extensive network of industry leaders. Oak HC/FT is headquartered in Greenwich, CT, with offices in Boston and San Francisco. Follow Oak HC/FT on TwitterLinkedIn, and Medium.

Paxos Media Contact:

Rebecca McClain

bmcclain@paxos.com

Overview

Paxos is a financial technology company modernizing finance by mobilizing assets at the speed of the internet.

Co Founder and CEO:
Charles Cascarilla

Founded:
2012

Investors:

RRE Ventures, Canaan Partners,
Liberty City Ventures

Media Inquiries:

press@paxos.com

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