Paxos files to become SEC-registered clearing agency
The application comes after the blockchain infrastructure company completed a pilot in 2021 to test its settlement service.
The Paxos Securities Settlement Company (PSCC) has filed an application with the US Securities and Exchange Commission to provide securities settlement services as a clearing agency, according to documents reviewed by WatersTechnology. The US regulator has now opened the application to public comments as it determines whether to grant the request.
If approved, PSCC would join a short list of active SEC-registered clearing agencies, which includes the Depository Trust & Clearing Corporation (DTCC)
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