Paxos Labs Secures $12M to Expand Crypto Yield Platform Amplify

Paxos Labs has secured $12 million in funding led by Blockchain Capital to scale its Amplify platform. The platform offers a range of services, including yield generation, crypto-backed lending, and stablecoin issuance, through a single SDK integration.

The Amplify platform allows companies to integrate these services with minimal effort, handling the heavy lifting of liquidity management, counterparty vetting, and backend operations. In return, integrating partners share revenue generated through the platform.

Early adopters of the platform include Aleo, Hyperbeat, and Toku, with Hyperbeat reporting $510,000 in assets under management within days of launching on April 9.