Paxos is approved to settle stocks on the blockchain platform, and Credit Suisse and Societe Generale will participate first

The US Securities and Exchange Commission issued a "No Action" letter to Paxos on Monday to allow it to settle stock trades on the blockchain platform. Paxos announced that Credit Suisse and Société Générale will be the first two companies to use Paxos' new settlement services, which will operate on a licensed private network. The service will enable both parties to directly settle securities transactions bilaterally. Paxos' new platform is the first regulated platform to support such transactions and is more efficient than existing legacy systems.