Paxos is approved to launch blockchain stock settlement platform, Credit Suisse and Societe Generale will participate in the first batch

According to Cointelegraph's October 29 report, Paxos Trust announced that it will launch settlement services for US-listed stocks.

Photo-1561451213-d5c9f0951fdf

According to a press release on October 28th, digital asset trust Paxos said it has received a “no action exemption” letter from the US Securities and Exchange Commission (SEC) and is preparing to launch a blockchain-based stock settlement platform. The SEC letter indicates that the agency will not take any action against Paxos. In other words, Paxos can now launch its billing platform.

Credit Suisse and Société Générale will be the first to use the US stock blockchain real-time service, and both parties will be able to directly conduct securities settlement transactions. Paxos CEO and co-founder Charles Cascarilla said:

The technology will start with stocks listed in the US and then expand to other asset classes in different regions and target all types of customers.

In early September, Paxos launched PAX Gold (PAXG), an Ethereum token that is endorsed in gold. Paxos claims that it is “the first crypto asset that can be exchanged for physical gold”. A few days later, the stable currency was approved by the New York State Department of Financial Services, which the government said was the first digital currency eligible to be traded in New York State and linked to gold.

Kraken goes online PAX Gold

Just today, the San Francisco-based Kraken cryptocurrency exchange announced the launch of PAXG. Starting October 29, exchange users will be able to access and trade the asset. Kraken will also launch a trading pair between PAXG and Bitcoin, Ethereum and the legal currency such as the euro and the US dollar.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Bitcoin for $0.32, they dreamed back to 2009 today

On August 23, 2019, the history of cryptocurrencies may remember this day. In the normal market price of Bitcoin was ...

Blockchain

Blockchain data analysis lets you see the counterparties

By analyzing the blockchain data set, we will have a better and clearer understanding of cryptocurrencies. (Image sou...

Blockchain

The exchange is robbing the tokens, all of which are behind the interests.

Since 2019, with the launch of the first issue of the currency-raising (IEO), the “project-side tokens have be...

Blockchain

The digital currency exchange has been caught in the throat by the legal currency.

Under the premise of a constant total circulation, money acts as a catalyst for rapidly transforming production mater...

Policy

Babbitt Column | US Prosecution Investigative Exchange and Precautions

(For more details, see also Deng Jianpeng, Sun Penglei: “Intermediary Chain Supervision and Compliance Respons...

Blockchain

Who is the information of the user who sells the coin? What have the leaked information been taken?

While enjoying the convenience of the Internet, it also makes privacy data a step closer to streaking. Recently, many...