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CryptoWorld News reports that Paxos Labs has split off from stablecoin issuer Paxos and raised $12 million in funding, with Blockchain Capital leading the round, and participation from Robot Ventures, the family office Maelstrom, and DeFi developer Uniswap Labs. Paxos Labs co-founder Bhaumik Kotecha declined to disclose the valuation of this funding round. Paxos CEO Chad Cascarilla is also the CEO of Paxos Labs. Paxos Labs will mainly serve as a service provider for large enterprises to create and manage their own stablecoins.