SEC approves Paxos as ‘blockchain-native’ clearing agency
Paxos says its approval as a blockchain-focused clearing agency represents a “critical piece of financial market infrastructure” as Wall Street becomes more interested in crypto....
Key takeaways
- 1Paxos becomes first blockchain-native firm SEC approved as clearing agency after seven years of regulatory work since 2019.
- 2Paxos pilot demonstrated blockchain settlement could deliver same-day settlement, reduce costs, and improve operational efficiency.
- 3SEC closed investigation into Paxos in 2024; company settled $48.5 million with NYDFS in August 2025 over BUSD compliance.
Why it matters
This approval signals regulatory legitimacy for blockchain infrastructure in traditional finance, potentially accelerating crypto adoption by Indian retail investors through safer, SEC-regulated clearing mechanisms. It demonstrates Wall Street's convergence with blockchain technology and reduces barriers for regulated digital asset trading.
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