Paxos Unit Receives Clearing Registration Approval From SEC

Paxos, an issuer of stablecoins such as PayPal Holdings Inc.’s PYUSD, said a subsidiary was granted approval by the US Securities and Exchange Commission to provide clearing and settlement services for transactions in eligible securities.

• Paxos Securities Settlement Company LLC received the registration under Section 17A of the Securities and Exchange Act of 1934.
• The registration makes PSSC the only blockchain-native firm approved by the SEC as a registered clearing agency to provide clearing and settlement services as a central securities depository in the US, Paxos said in a statement Thursday.
• Paxos has a platform for issuing stablecoin, and ...