$65 Mln raised by Blockchain Settlement Platform Paxos

Formerly bitcoin exchange itBit, blockchain settlement platform Paxos has completed  a $65 million Series B round of financing headed by existing investors
01 June 2018   785

Paxos which is placed in New York, unvealed the Series B round was led by a group of current investors including Liberty City Ventures, RRE Ventures, Jay Jordan in order to use the capital to ‘significantly’ scale operations and widen its presence as a blockchain settlement platform in international markets.

This additional funding will further our goals to eliminate settlement risk and expand our product offerings across geographies. We are continuing to invest in expanding our platform that simplifies our financial infrastructure, offers greater control and lays the foundation for the future.
Andrew Chang
COO, Paxos

The Series B round is Paxos’ first financing campaign since its $25 million Series A round in May 2015, processing at itBit at the time. The company claimed it has now raised a total of $93 million in funding to date. Known as the first bitcoin exchange to take a New York banking license in 2015, itBit received a banking charter resemble to the Winklevoss brothers’ Gemini exchange before its rebrand to Paxos in 2016.

It is a crucial time in the financial markets. We are at an inflection point to reduce the risk in our financial system and free capital trapped by an archaic settlement system.
Charles Cascarilla
CEO, Paxos

The firm started to be based on blockchain settlement of trades in securities and precious metals (gold, etc.). In December 2016, Paxos ended a pilot with Euroclear, the biggest settlement provider of Europe, in 2 weeks involving over 600 over the counter gold bullion trades settled on the company’s’ blockchain. The New York Department of Financial Services (DFS) in May 2018, the state’s financial regulator, presented another license to Paxos in authorizing the company’s blockchain post-trade platform Bankchain as a precious metals` solution. 

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   404

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of founders@ravenprotocol.com their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.