Paxos Subsidiary Receives SEC Clearing License, Becoming the First Blockchain-Native Settlement Institution in the U.S.

Odaily Odaily Planet Daily News Stablecoin issuer Paxos announced that its subsidiary, Paxos Securities Settlement Company (PSSC), has officially received approval from the U.S. SEC to register as a clearing agency, enabling it to provide securities clearing and settlement services under Section 17A of the Securities Exchange Act of 1934.

This approval makes PSSC the first and currently only "blockchain-native" registered clearing agency in the United States. It can also serve as a central securities depository (CSD), providing delivery-versus-payment (DVP) settlement services for eligible securities transactions. (Prnewswire)