Paxos Unit Wins SEC Approval as U.S. Blockchain-Native Clearing Agency

According to Paxos, its subsidiary received SEC registration as a clearing agency under the Securities Exchange Act of 1934, which the company says marks a first for a crypto-related and blockchain company in the U.S.

28d ago

Fact Check

The official Paxos PRNewswire release explicitly states that Paxos Securities Settlement Company (PSSC) received SEC clearing agency registration and is the first blockchain-native settlement platform so registered. Crypto Briefing and Yahoo Finance independently corroborate the approval, and SEC.gov documents the regulatory filing process. The claim's specifics—Paxos unit, SEC approval, first blockchain-native clearing agency in the U.S., faster settlement and reduced counterparty risk—are all directly supported.

Summary

Paxos said its subsidiary, Paxos Securities Settlement Company, received U.S. Securities and Exchange Commission registration as a clearing agency under the Securities Exchange Act of 1934. The company said the approval, announced on the 28th, makes it the first crypto-related firm and blockchain company to obtain that status in the United States. The existing topic context indicates Paxos has positioned the registration as a step toward expanding blockchain-based post-trade infrastructure for securities transactions and serving banks and brokers through regulated settlement systems.

Terms & Concepts

clearing agency: A regulated entity that performs post-trade functions such as clearing and settlement for securities transactions.
blockchain: A distributed digital ledger system used to record and transfer data or assets across a network.