Cryptocurrency firm Paxos raises $300 million at $2.4 billion valuation

FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken March 15, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) - Cryptocurrency firm Paxos said on Thursday it had raised $300 million at a valuation of $2.4 billion, in a funding round led by fintech and healthcare focused venture capital firm Oak HC/FT.

Existing investors, including PayPal Ventures, Declaration Partners and Senator Investment Group, also participated in the round, Paxos said.