Paxos Becomes First SEC-Approved Blockchain Settlement Institution, Giving Wall Street's On-Chain Infrastructure Another Push

📄Full Article· Automatically extracted by trafilaturaGemini 翻譯1206 words

Paxos subsidiary officially obtains SEC clearing agency registration, becoming the first centralized securities depository to operate as a "blockchain-native" entity, as Wall Street accelerates its blockchain infrastructure deployment. (Background: After SEC sanctions》Paxos: Honored $7.9 billion in redemptions within 32 days) (Context: Paxos launches Paxos Labs: Helping enterprises deploy DeFi and stablecoin applications) Paxos subsidiary Paxos Securities Settlement Company has officially obtained clearing agency registration from the U.S. Securities and Exchange Commission (SEC), becoming the first centralized securities depository to operate as a "blockchain-native" entity. This seemingly low-key registration signifies that Wall Street's interest in blockchain has moved from "buying coins as investment" to "rebuilding post-trade infrastructure." Stock trading isn't a direct handoff between buyer and seller. Behind every transaction, there's a clearing agency verifying the trade, matching buyer and seller, and then ensuring that funds and securities are actually delivered. Traditionally, these roles have been gatekept by the National Securities Clearing Corporation (NSCC) and the Depository Trust Company (DTC). Now, Paxos becoming an SEC-recognized clearing agency means blockchain can legally play this "trade gatekeeper" role. Paxos co-founder and CEO Charles Cascarilla stated that this registration is the result of seven years of work, beginning with the SEC's No-Action Letter issued in October 2019, followed by the launch of the blockchain settlement pilot program in February 2020, during which Paxos collaborated with multiple top global financial institutions for validation. During the pilot, Paxos successfully demonstrated that blockchain post-trade infrastructure could achieve same-day settlement, reduce operational costs, and improve efficiency—all while operating within the regulatory framework. Paxos is more than just a clearing agency; it is also the issuer of multiple stablecoins: PayPal USD (PYUSD), Global Dollar (USDG), and Pax Gold (PAXG). The clearing agency registration adds an official endorsement to stablecoins' "daily tasks" of fund flows and asset exchanges, and lowers the barrier for banks and brokerages to build crypto infrastructure in the future. Paxos's relationship with the SEC hasn't always been smooth sailing. In 2023, Paxos received a Wells Notice, with the SEC alleging that Paxos issued Binance USD (BUSD) as an unregistered security. In 2024, the SEC officially closed the investigation and issued a termination notice. Paxos also reached a $48.5 million settlement with the New York Department of Financial Services (NYDFS) in August 2025. Today, Paxos's clearing agency registration demonstrates one thing to Wall Street: blockchain isn't just staying on the whiteboard—it's already handling real post-market trades. Taiwan's securities market clearing is currently led by Taiwan Securities Central Depository (TWSP), using a T+2 settlement system (shortened to T+1 starting March 2026). Paxos's registration shows that blockchain can operate under T+1 or even T+0 frameworks. If Taiwan follows suit, the central depository will also face potential threats from "blockchain-native" competitors. Notably, Paxos's registration this time follows the "Central Securities Depository" (CSD) path. If more blockchain clearing agencies obtain qualifications in the future, Taiwan's stock market T+1 system may soon be outpaced by T+0 blockchain solutions.

Data Status✓ Full text extractedRead Original (動區 BlockTempo)

🔍Historical Similar Events· Keyword + Asset Matching6 items

2026-05-29

SEC Grants Paxos Historic Approval to Clear and Settle US Equities on Blockchain

Similarity 170%關鍵字 sec/paxos同分類 hot

2026-05-29

Paxos wins SEC approval to clear U.S. stocks on blockchain

Similarity 170%關鍵字 sec/paxos同分類 hot

2026-05-29

Paxos Secures SEC Registration as Clearing Agency

Similarity 170%關鍵字 sec/paxos同分類 hot

2026-05-29