Paxos Wins SEC Clearing Agency Registration for PSSC After Seven-Year Effort

Paxos said its subsidiary Paxos Securities Settlement Company (PSSC) has received U.S. Securities and Exchange Commission registration to operate as a clearing agency and central securities depository in the United States. The company described the approval as the outcome of seven years of engagement with regulators, building from a 2019 no-action letter and a live settlement program it has run since February 2020.