Paxos Becomes First Blockchain-Native SEC-Approved Clearing Agency

TheNewsCryptoPubblicato 2026-05-29Pubblicato ultima volta 2026-05-29

Introduzione

Paxos has become the first blockchain-native company to be approved and registered as a clearing agency by the U.S. Securities and Exchange Commission (SEC). Its subsidiary, Paxos Securities Settlement Company, is now authorized to act as a central securities depository in the United States. This registration is the culmination of seven years of work with the SEC, including a 2019 No-Action Letter and a settlement pilot involving major financial institutions. The approval marks a significant step in the convergence of blockchain technology with traditional capital markets. A registered blockchain clearinghouse reduces the need for banks and brokerages to build their own crypto-based infrastructure. Paxos's earlier pilot demonstrated that blockchain-based post-trade infrastructure could enable same-day settlement, lower costs, and improve operational efficiency within a regulated framework. Paxos is also known as a stablecoin issuer, with products like Pax Gold (PAXG) and PayPal USD (PYUSD).

The first “blockchain-native” company to get registration as a clearing agency from the US SEC is Paxos, a blockchain infrastructure platform and stablecoin issuer. On Thursday, Paxos said that its subsidiary, Paxos Securities Settlement Company, has been authorized by the SEC to serve as a central securities depository in the United States, making it “the only blockchain-native firm” in this capacity.

Charles Cascarilla, co-founder and CEO of Paxos stated:

“Our clearing agency registration is the result of seven years of work with the SEC, beginning with our No-Action Letter in 2019 and the settlement pilot we operated with some of the world’s largest and most sophisticated financial institutions.”

The business went on to say that this clearance is a “critical piece of financial market infrastructure” because of the ongoing convergence of blockchain technology with conventional capital markets.

Securities Settlement with Blockchain-based Market Infrastructure

Clearing agencies guarantee that securities trades are carried out in a tidy manner. Clearing and settlement providers are essential to the stock trading process because they authenticate trades, pair buyers and sellers, and guarantee a smooth transfer of funds and securities.

The need for banks and brokerages for building crypto-based infrastructure is alleviated by a registered blockchain clearinghouse that has been approved by the SEC. After receiving a no-action letter from the SEC in October 2019, Paxos was able to begin testing a settlement service for US stocks that relied on blockchain technology. The service was officially launched in February 2020.

The pilot, according to Paxos, proved that, within a properly regulated environment, blockchain-based post-trade infrastructure may bring about same-day settlement while simultaneously lowering costs and increasing operating efficiency. Paxos is a digital asset and stablecoin issuer. Some of its products include Pax Gold (PAXG), Global Dollar (USDG), and PayPal USD (PYUSD).

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Domande pertinenti

QWhat is the significance of Paxos becoming the first blockchain-native SEC-approved clearing agency?

AIt signifies a major regulatory milestone, allowing a blockchain-native firm to serve as a central securities depository and clearing agency in the U.S., bridging blockchain technology with traditional capital markets infrastructure.

QWhat specific Paxos subsidiary received the SEC's clearing agency registration?

APaxos Securities Settlement Company, a subsidiary of Paxos, received the registration to serve as a central securities depository in the United States.

QHow long did the process take for Paxos to achieve this registration with the SEC, and what was a key early step?

AThe process took seven years. A key early step was receiving a No-Action Letter from the SEC in 2019, which allowed Paxos to begin testing its blockchain-based settlement service.

QWhat are the potential benefits of using blockchain-based post-trade infrastructure for securities settlement, as demonstrated by Paxos's pilot?

AAccording to Paxos's pilot, blockchain-based infrastructure can enable same-day settlement (T+0), reduce costs, and increase operational efficiency compared to traditional systems.

QName at least two stablecoins or digital assets issued by Paxos as mentioned in the article.

APaxos issues digital assets and stablecoins including Pax Gold (PAXG), Global Dollar (USDG), and PayPal USD (PYUSD).

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