Flush with Cash, Paxos Plans Precious-Metals Blockchain Launch Next Week

In addition to going live with its blockchain, the trust company has netted an additional $65 million in Series B funding.

This round of funding comes as the blockchain provider is set to launch its blockchain for precious metals next week, Charles Cascarilla, CEO of Paxos, tells WatersTechnology. In July 2017, international central securities depository Euroclear announced it was abandoning its project with Paxos to build a blockchain system for gold bullion. At the time, the vendor said that it would continue to push forward building the platform—dubbed Bankchain—and aimed for a 2018 launch.

The company is now

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