Paxos has received approval from the U.S. Securities and Exchange Commission (SEC) to register as a clearing house. It is the first and only example of a blockchain-based company. Paxos is a company that supports tokenization, consignment, and transaction of assets.
Paxos announced on the 28th (local time) that its subsidiary Paxos Securities Settlement Company (PSSC) has been approved by the SEC to register as a clearing house under Section 17A of the U.S. Securities Exchange Act.
Clearing houses are a key infrastructure for financial markets that broker transactions and guarantee settlements to central counterparties between buyers and sellers in stocks, derivatives,…