Paxos says the U.S. Securities and Exchange Commission has registered its subsidiary, Paxos Securities Settlement Company (PSSC), as a clearing agency. The registration enables Paxos to provide clearing and settlement services for transactions in “eligible securities” using its blockchain infrastructure platform, according to the company’s May 28 announcement.
Multiple outlets report that Paxos positions the approval as a first-of-its-kind status for a blockchain-native firm, describing it as the first and only blockchain-native firm registered by the SEC to operate as a clearing agency in the United States. The sources characterize the SEC approval as a step toward expanding Paxos’s role in the post-trade process, moving beyond related blockchain infrastructure to include registered clearing and settlement capabilities for qualifying securities transactions.
The reporting is based on Paxos statements accompanying the SEC registration. None of the sources provides additional regulatory details beyond the registration and the scope being limited to eligible securities transactions.
