Paxos becomes the first blockchain-native company to be registered as a clearing agency by the SEC on May 28.


According to an announcement released by Paxos on May 28, Paxos Securities Settlement Company (PSSC) has received registration from the SEC as a clearing agency under Section 17A of the Securities Exchange Act of 1934, making it the first and only blockchain-native company in the United States approved to provide clearing and settlement services as a central securities depository.
CEO Charles Cascarilla attributes this milestone to its seven years of regulatory communication and interaction with the SEC, including a 2019 "no-action" letter and pilot operations with major financial institutions since February 2020.
PSSC is now able to provide clearing and settlement services for eligible securities transactions, enabling same-day settlement and improving operational efficiency.
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