Paxos Becomes First Blockchain-Native Firm to Receive SEC Clearing Agency Registration
By
@cointelegraph
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Summary
Paxos, a blockchain infrastructure platform and stablecoin issuer, announced that its subsidiary Paxos Securities Settlement Company has become the first blockchain-native firm to receive SEC registration as a clearing agency. This approval allows Paxos to provide clearing and settlement services as a central securities depository in the US, marking a significant step in integrating blockchain technology with traditional capital markets infrastructure.
Key quotes
· 2 pulledPaxos said on Thursday that its subsidiary, Paxos Securities Settlement Company, has become "the only blockchain-native firm" that the SEC approved to provide clearing and settlement services as a central securities depository in the US.
The approval represents a "critical piece of financial market infrastructure" as blockchain technology and traditional capital markets continue to converge.
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