Earlier today, we announced our $142 million Series C fundraise, which was a satisfying capstone to everything Paxos has achieved this year. Read ahead for our look-back on our biggest year ever. (Infographic ahead, followed by all the text from the image for accessibility.)
In 2020 alone, our tokenized assets (US dollar-backed stablecoins PAX, BUSD and HUSD, as well as gold-backed PAX Gold) grew 295%. This indicates a greater demand for asset-backed tokens that have real-world value and are mobile, global and 24/7.
Started the year with $406,460,608 in tokenized assets under custody
Introduced the new Paxos account experience as a unified platform to seamlessly manage currency, crypto & gold.
Representing the industry, Paxos CEO & Co-Founder Charles Cascarilla testified to the US Senate Banking committee on the digitization of money.
- Added Bitcoin Cash & Litecoin to the Paxos wallet & itBit exchange.
- Launched Paxos Crypto Brokerage with Revolut US as a first client.
- Celebrated the anniversary of HUSD with more than $3 billion in total transactions.
Secured “Greenlist status” in New York so PAX, BUSD and PAXG can be offered by any NYDFS-licensed entity without regulatory approval.
- Celebrated the anniversary of BUSD with more than $3.8 billion in total transactions.
- PAXG trading launched on Binance, Gemini, BlockFi, Celsius, Nexo.
- Charles Cascarilla featured as one of Coindesk’s Most Influential in 2020.
- Received SOC1 Type 2 certification.
- Named to CB Insights’ inaugural Blockchain 50 list.
- Raised $142 million in Series C funding, for a total of $240 million.
- Ended 2020 with $1.4 billion in tokenized assets under custody.
Thank you for joining us on our trip down memory lane. Ready to look forward? Read this blog post on the Paxos strategy for 2021.