Paxos has received approval from the U.S. Securities and Exchange Commission to operate as a registered clearing agency, making it the only blockchain-native company to hold this designation in the United States. Clearing agencies play a critical role in financial markets by validating, settling, and recording securities transactions, reducing counterparty risk between buyers and sellers. The registration positions Paxos to bring blockchain-based infrastructure directly into regulated securities settlement processes, potentially accelerating the adoption of on-chain settlement in traditional finance. The approval represents a significant regulatory milestone at a time when U.S. authorities are showing increased openness toward integrating crypto-native firms into established financial market structures. Paxos is already known for issuing regulated stablecoins and tokenized assets.
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