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Paxos Wins SEC ‘No-Action’ Letter to Settle Equities on a Blockchain

Paxos is seeking to modernize the equities settlement process using a regulator-approved blockchain process. The U.S. Securities and Exchange Commission (SEC) granted Paxos Trust Company no-action relief Monday to settle equity securities trades on a blockchain platform for broker-dealers. Paxos announced that Credit Suisse and Société Générale would be the first two companies to utilize the new Paxos Settlement Service, which would operate on a private and permissioned network. As envisioned, the service will let …

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