After a mega-deal with PayPal earlier in the year, the New York-regulated financial institution Paxos announced they closed a Series C funding round at $142 million on December 23. Paxos is a New York-regulated financial institution building infrastructure to enable movement between physical and digital assets. The round was backed by the family office of David M. Rubenstein, PayPal Ventures, Mithril Capital, RIT Capital Partners plc, Ken Moelis, Alua Capital, Senator Investment Group, and more. Paxos holds custody of digital assets on blockchains as a regulated Trust company and they help list tokens on crypto exchanges. Charles Cascarilla, the CEO and co-founder of Paxos, said "We are proud to count among our clients' global leaders in payments, banking, trading and fintech, such as PayPal, Credit Suisse, Societe Generale and Revolut. Paxos is uniquely positioned to address the digital asset needs of global brands and bring our solutions to enterprises with trillions in assets and billions of end users. We are grateful for the support of our new investment partners which helps bring us closer to our vision for a more open, accessible economy." The company plans to double the size of its 100+ person team. Cascarilla studied Finance at Notre Dame then worked as an Analyst at Bank of America and Goldman Sachs before starting Paxos. He helped found the Association For Digital Asset Markets (ADAM) which partners with leading financial firms and regulatory experts to devise a code of conduct for digital asset markets. One of their primary focuses lately has to be FinCEN’s Proposed KYC Requirements that would require strict address verification procedures for Money Services Businesses (MSBs). The two most successful tokens for Paxos are the USD stablecoin Paxos Standard Token (PAX) and Pax Gold (PAXG). Gold is up 17.37% over the past year and 10.06% over the past month. Paxos was founded in 2012.