Paxos to settle SEC regulated equities on blockchain

posted 21 days ago
Paxos is seeking to modernize the equities settlement process using a regulator-approved blockchain process. The SEC granted Paxos Trust Company no-action relief to settle equity securities trades on a blockchain platform for broker-dealers.

Paxos announced that Credit Suisse and Société Générale would be the first two companies to utilize the new Paxos Settlement Service, which would operate on a private and permissioned network. The service will let two parties bilaterally settle securities trades directly with each other. Monday’s announcement marks the first regulated platform for such trades, and should be more efficient than the existing legacy system.
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