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Paxos's spun-off DeFi infrastructure subsidiary Paxos Labs announced the completion of $12 million in funding, led by Blockchain Capital, with participation from Uniswap Labs and others. Paxos Labs primarily provides enterprise clients with stablecoin issuance, on-chain yield, and lending protocol integration services, helping developers access DeFi markets like Aave through a single software suite. The company stated it already has clients and expects to break even by the end of this year. (Fortune)