Paxos has received SEC approval to provide settlement and clearing services for U.S. equities using blockchain infrastructure, making it the first crypto-native firm to enter a market long dominated by legacy institutions like the DTCC. The approval grants Paxos a registered clearing agency status, allowing it to compete directly with decades-old financial market utilities. By leveraging blockchain technology, Paxos aims to offer faster, more transparent, and cost-efficient settlement compared to traditional T+1 or T+2 cycles. The move is seen as a significant regulatory milestone for the broader crypto and blockchain industry, signaling growing institutional acceptance of distributed ledger technology within core financial market infrastructure. Major traditional finance firms could now opt for Paxos as a modernized alternative for back-office settlement operations.
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