Paxos Valuation, Funding & Investors

2TM is a blockchain infrastructure provider for financial markets, headquartered in Sao Paulo, Brazil. Founded in 2013, it operates Mercado Bitcoin, Latin America's largest cryptocurrency exchange handling over $10 billion in annual volume. The platform facilitates secure trading, custody, and investment operations across 15 countries. 2TM supports institutional clients with staking services and tokenized assets on Ethereum and Solana networks.

TRM Labs provides blockchain intelligence tools for financial institutions, crypto firms, and agencies like the FBI and IRS to detect and investigate cryptocurrency crimes. Trusted by clients including PayPal, Visa, FTX, Uniswap, and Anchorage, the company has raised over $79 million from investors such as JPMorgan Chase, Citi, and Tiger Global. Operating remotely with hubs in San Francisco, Washington, DC, and London, TRM employs experts from the U.S. Secret Service, Treasury, and Coinbase.

LayerZero Labs is an omnichain interoperability protocol enabling messaging between 50+ blockchains. The endpoint-based architecture uses Ultra Light Nodes and decentralized verifiers for trustless communication. Supporting dApps like Stargate and Radiant Capital, it handles over $30 billion in cross-chain volume since 2022. Headquartered in Vancouver, LayerZero Labs launched V2 in 2024 with zero-knowledge proofs. Partnerships include Circle for USDC bridging.

Matrixport is a Singapore-based digital-asset financial services platform, founded in 2019 by Bitmain co-founders Jihan Wu and Ge Yuesheng, offering institutional custody, trading, lending, structured products, and asset management to institutional and retail clients. It holds licenses in Singapore, Hong Kong, and Switzerland, and its Matrixdock unit tokenizes real-world assets such as LBMA-accredited gold and US Treasury products. The company has also expanded through acquisitions, including Swiss crypto asset manager Crypto Finance (Asset Management) AG.

Talos is a New York-based institutional trading infrastructure provider for cryptocurrencies, facilitating execution, custody, and settlement across 300 assets. Founded in 2018, the platform connects exchanges, market makers, and hedge funds via low-latency APIs and smart order routing. Talos powers liquidity for firms like Galaxy Digital and supports OTC desks with prime brokerage services.

Securitize Holdings Inc provides a platform for tokenized real-world assets specializing in tokenizing real-world assets (RWAs) like funds, equities, and fixed income on blockchain networks. The company operates across two primary verticals: i) Tokenization: It consists of on-chain infrastructure and tokenization & distribution, ii) Asset Servicing: It covers post-issuance transfer agent and fund management services. The majority of the company's revenue is derived from the Tokenization vertical.

Anchorage Digital is a San Francisco-headquartered federally chartered digital asset bank providing custody, trading, staking, and governance services to institutions. The platform operates Anchorage Digital Singapore for Asia-Pacific clients and maintains offices in New York, Porto, and Sioux Falls. Founded in 2017, Anchorage Digital secures over $50 billion in assets under custody for hedge funds, exchanges, and foundations.

Pipe is a financial services platform that enables subscription-based businesses to access capital by trading future recurring revenue streams with institutional investors through real-time auctions. Headquartered in San Francisco, California, the company processes transactions for SaaS firms, media publishers, and e-commerce operators seeking non-dilutive funding based on annual contract values. Launched in 2020, Pipe integrates with billing systems like Stripe and Zuora to automate revenue verification and payouts, serving over 5,000 companies globally with a marketplace exceeding $3 billion in tradable revenue by 2023.

Founded in 1998 and headquartered in New York City, Tradeweb Markets is a leading fixed-income trading platform. While it does offer electronic processing for some voice-negotiated trades, the company focuses primarily on providing electronic trading networks that connect broker/dealers, institutional clients, and retail customers. While the company offers trading in a wide variety of products, the bulk of its business is in US and European government debt, mortgage-backed securities, interest-rate swaps, and US and international corporate bonds. The firm also sells fixed-income trading and price data, primarily through a deal with Refinitiv’s Eikon service.

BitSight is a Boston-headquartered provider of security ratings platforms. The company applies algorithms to generate daily ratings from 250 to 900, aiding third-party risk management, cyber insurance underwriting, performance benchmarking, M&A due diligence, and aggregate risk assessment. BitSight serves over 1,000 customers, including seven of the top 10 cyber insurers, 20 percent of Fortune 500 firms, and three of the top five investment banks.

Shanghai DZH Ltd operates as an Internet financial information service provider in China. It offers professional financial data and data analysis services. It also provides non-investment consulting and agency-specific software products. In addition, the company offers financial information integrated services internationally.

Compagnie Financiere Tradition SA is a Switzerland-based interdealer broking firm. It acts as a marketplace and an intermediary and facilitates transactions between financial institutions and other professional traders in the capital markets. Its Financial and non-financial products include bonds, interest rates, index futures, currency and credit derivatives, equities, precious metals, energy and environmental products and others. Its geographical segments are Europe, Middle East and Africa; Americas and Asia-Pacific.

Servyou Software Group Co Ltd is a comprehensive service provider of fiscal and taxation information in China. It offers tax system development and operation and maintenance for tax authorities, and provides comprehensive Internet financial and taxation services for taxpayers and financial and tax intermediaries with the Yiqiying brand.

Immutable Systems is a Sydney-based blockchain infrastructure provider for gaming. It delivers layer-2 scaling solutions on Ethereum for NFT-based video games like Gods Unchained. The platform processes millions of transactions daily, enabling true asset ownership in titles from GameStop and others. Immutable supports studios with SDKs and gods unchained marketplace.

Wormhole is a cross-chain interoperability protocol connecting over 30 blockchains including Ethereum, Solana, Polygon, and Aptos. It enables secure transfers of native assets, NFTs, and arbitrary data through its Guardian validation network. Developers leverage Wormhole's SDK for building multi-chain DeFi protocols, gaming platforms, and governance systems. Launched in 2021 by Jump Trading Group, the platform integrates with wallets like Phantom and Ledger. Costa Rica-based Wormhole Technology maintains ongoing expansions to chains such as Sui and Sei.

Tradegate AG Wertpapierhandelsbank is a Germany-based company. It is engaged in providing banking and financial services. In addition to retail banking, the company focuses on the trading of several domestic and foreign securities on the Tradegate Exchange, and the Frankfurt and Berlin stock exchanges. The company's main business activity consists of market specialist activities and market making; it acts as a Market Specialist on the Tradegate Exchange and the Frankfurt Stock Exchange and as an order book manager on the Berlin Stock Exchange. It extends its services to the securities listing on the stock exchanges in Munich, Stuttgart, Hamburg, Hanover, and Dusseldorf.

1inch is a decentralized exchange aggregator operating across 10 blockchains including Ethereum, BNB Chain, Polygon, and Arbitrum. Headquartered in DIFC, UAE, and operated by Degensoft Ltd in BVI, it offers smart routing for optimal swaps, a non-custodial wallet, fusion mode for gasless trades, and institutional APIs for high-volume liquidity access.

Story Protocol is a web3 infrastructure layer for on-chain intellectual property management tailored to narrative universes in gaming, media, and entertainment. Creators deploy programmable licenses, track derivative works, and enforce royalties through Layer 2 solutions on Optimism. The protocol supports IP composability, enabling shared worlds where assets like characters and lore generate automated revenue shares. Introduced in 2023, Story Protocol secures partnerships with Animoca Brands and integrates with Unity for game development workflows.