Paxos Wins Approval To Settle Securities Trades On The Blockchain

Paxos has just won a major new regulatory approval in America. And it might change the future of bringing stocks and bonds to the blockchain.

What’s happening:

• The United States Securities and Exchange Commission has officially registered Paxos’ subsidiary Paxos Securities Settlement Company as a clearing agency
  

Why it matters:‍

• The new approval from the United States Securities and Exchange Commission is the first ever approval for a blockchain native company to be allowed to clear and settle securities trades in the United States as a central securities depository
  

Going deeper:‍

• Paxos will now be able to verify trades, move ownership of stocks and bonds and handle settlement directly on the blockchain
  
• Paxos is one of the single largest crypto infrastructure companies in America and is the issuer of PayPal's (NASDAQ: PYPL) highly popular stablecoin PYUSD
  

The intrigue:‍

• Paxos first started a feasibility study with the United States Securities and Exchange Commission seven years ago to validate their blockchain settlement technology and formally filed their application to become a equities clearing agency five years ago

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