Paxos applies for clearing license with SEC following successful pilot tests
Cointelegraph
Published Apr 06, 2021 02:45PM ET
Updated Apr 06, 2021 04:20PM ET
Paxos, a United States-based stablecoin operator, announced Tuesday that it will apply for a formal clearing agency license with the Securities and Exchange Commission in a move that would bring another practical use case for blockchain technology in traditional markets.
As Reuters reported, the pursuit of an agency license by Paxos follows a successful pilot test of its same-day settlement system. Credit Suisse (SIX:CSGN), a Zurich-based financial institution; and Instinet, the trading arm of Nomura Holdings (NYSE:NMR) Inc, participated in the pilot by settling U.S.-listed stock trades on the same day.
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Written By: Cointelegraph
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