Paxos Labs raises $12 million, led by Blockchain Capital.

CoinFeed reported on April 14th that Paxos Labs, a startup spun off from stablecoin and blockchain infrastructure company Paxos, has completed a $12 million funding round led by Blockchain Capital, with participation from Robot Ventures, Maelstrom, and Uniswap Labs. Paxos has long-standing partnerships with institutions such as PayPal and Nubank. Paxos Labs focuses on providing DeFi infrastructure, helping businesses offer stablecoin and crypto lending access to retail users. Paxos Labs offers a suite of software tools that support institutions in issuing branded stablecoins and allow users to participate in on-chain lending and staking with stablecoins.