The boom in the cryptocurrency market is also bringing companies developing related technology to the top. Paxos, which has been providing different technologies to the cryptocurrency world for a long time, also gets the best from these developments.
Although the name Paxos is unheard of, it basically develops cryptocurrencies based on physical commodities. The gold-based PAXG and dollar-based PAX unit are the technology of this firm. There is also Paxos signature on Binance’s BUSD fiat currency. It also operates a cryptocurrency exchange called itBit.
On the other hand, it has acquired important customers as it complies with legal regulations. Paxos technologies provide the cryptocurrency flow of PayPal and its subsidiary Venmo. It also offers some services for Credit Suisse.
The important moves he makes increase the value of Paxos. The company, which received another $ 300 million investment this week, has reached more than $ 500 million in total. The market value increased to $ 2.4 billion. The company aims to appeal to a wider audience by making critical purchases in the upcoming period.