Paxos subsidiary approved by the SEC to become the first blockchain-native registered clearing agency in the United States

According to PRNewswire, the stablecoin issuer Paxos announced that its subsidiary Paxos Securities Settlement Company, LLC (PSSC) has received approval from the U.S. Securities and Exchange Commission (SEC) to officially register as a clearing agency, providing securities clearing and settlement services under the Securities Exchange Act.

It is reported that this registration makes PSSC the first blockchain-native approved registered clearing agency in the United States, capable of providing clearing and settlement services as a Central Securities Depository (CSD) for qualified securities transactions.