Paxos subsidiary receives SEC clearing license, becomes first blockchain-native settlement institution in the US

Odaily reported that stablecoin issuer Paxos announced that its subsidiary, Paxos Securities Settlement Company (PSSC), has officially received approval from the US 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 act as a Central Securities Depository (CSD), providing delivery-versus-payment (DVP) settlement services for qualified securities transactions. (Prnewswire)