Paxos just got the SEC’s golden ticket to settle U.S. equities on the blockchain. Wall Street’s old guard? They’re probably Googling “how to blockchain” right now.
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Key Takeaways (because who has time for nuance?):
- The SEC said “sure, why not?” to Paxos being a registered clearing agency.
- Same-day settlement? It’s like Amazon Prime for stocks now.
- After 7 years of regulatory limbo, Paxos is finally allowed to adult in the financial world.
SEC Unclogs Wall Street’s Pipes with Blockchain Drain-O
In a move that’s less “revolutionary” and more “finally, someone noticed the plumbing was broken,” the SEC has given Paxos the green light to operate as a central securities depository (CSD). Translation? They’re now officially allowed to settle U.S. equities faster than you can say “DTCC monopoly.” Speaking of the DTCC, they’re probably updating their LinkedIn to “legacy infrastructure provider seeking relevance.”
Charles Cascarilla, Paxos’s CEO, basically said, “We’ve been waiting for this longer than it takes to mine a Bitcoin,” during Thursday’s announcement. He also dropped this gem:
“Our clearing agency registration is the result of seven years of work with the SEC, beginning with our No-Action Letter in 2019 and the settlement pilot we operated with some of the world’s largest and most sophisticated financial institutions.”
Which is corporate-speak for “We’ve been adulting harder than anyone in this room.”
Turns out, Paxos has been quietly settling equities since 2020, thanks to an SEC no-action letter. They’ve been the backstage crew while the DTCC took the bow. But now? They’re stepping into the spotlight, and it’s about time.
With this new approval, Paxos is ready to go from “niche blockchain player” to “Wall Street’s new BFF.” They’re already the backbone for stablecoins used by Paypal and Mastercard, so yeah, they’re kind of a big deal.
Meanwhile, the SEC is like that friend who finally tries something new after years of saying, “I’m good with what I know.” They’ve been cracking down on DeFi and crypto exchanges, but now they’re all, “Blockchain? Sure, let’s tokenize everything!” Banks are already lining up like it’s Black Friday for real-world assets (RWAs). Who knew finance could be so trendy?
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2026-05-29 15:57