Blockchain-native clearing institutions obtain SEC licenses, and the moat of traditional finance has been further eroded.

Paxos announced that its subsidiary, Paxos Securities Settlement Company, has been formally registered as a clearing institution approved by the U.S. SEC, providing clearing and settlement services under securities law. This makes PSSC the first blockchain-native clearing institution approved and registered in the United States, and it can act as a CSD to provide clearing and settlement for eligible securities transactions.