Paxos Wins SEC Clearing Agency Registration in First for Blockchain Firm
Summary
- Paxos said its subsidiary Paxos Securities Settlement Company (PSSC) was formally registered with the U.S. Securities and Exchange Commission (SEC) as a clearing agency.
- Paxos said the registration allows PSSC to provide clearing and settlement services for eligible securities transactions, making it the first blockchain company to receive an SEC clearing agency license.
- Paxos said it has operated U.S. stock clearing and settlement services with major global financial institutions since 2020 and demonstrated improved settlement efficiency through blockchain-based post-trade infrastructure.
Forecast Trend Report by Period
Blockchain infrastructure company Paxos has registered with the U.S. Securities and Exchange Commission as a clearing agency.
Paxos said May 28 that its subsidiary, Paxos Securities Settlement Company, or PSSC, was formally registered with the SEC as a clearing agency.
The registration allows PSSC to provide clearing and settlement services for eligible securities transactions. Paxos said it is the first blockchain company to receive an SEC clearing agency license.
“This clearing agency registration is the result of seven years of discussions with the SEC,” Chief Executive Officer Charles Cascarilla said.
Paxos has operated U.S. equity clearing and settlement services with major global financial institutions since 2020. The company said that experience demonstrated improved settlement efficiency through blockchain-based post-trade infrastructure.
Paxos is also the issuer of PayPal USD (PYUSD) and Pax Gold (PAXG).
