Gate News, on April 14, Paxos Labs, a stablecoin and blockchain infrastructure company, announced the completion of a $12 million funding round. The round was led by Blockchain Capital, with Robot Ventures, the Maelstrom family office, and Uniswap Labs participating as follow-on investors. Paxos Labs was spun out from Paxos. It focuses on providing enterprises with stablecoin issuance and decentralized finance (DeFi) access solutions, enabling customers to create branded stablecoins through a single software suite and to offer functions such as interest on cryptocurrency asset deposits and collateralized lending and borrowing. Paxos Labs has already secured customers such as Hyperbeat and Aleo, and is expected to reach break-even by the end of this year. Previously, Paxos acquired the crypto wallet company Fordefi for more than $100 million to meet customer demand for the DeFi market.
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