Paxos Applies for SEC Clearing Agency Status to Issue On-Chain Stocks and Bonds
Paxos has applied to the U.S. SEC for clearing agency status, co-founder and CEO Chad Cascarilla said at the Solana Breakpoint conference on Dec. 11, BlockBeats reports. The designation would enable Paxos to directly custody and natively issue on-chain stocks and bonds, allowing users to hold real underlying assets rather than derivatives. Cascarilla said Paxos aims to move traditional assets on-chain and continue expanding in stablecoins and asset tokenization, including USDG growth and gold tokenization products, adding that public blockchains could become a unified global venue for asset trading and significantly improve market accessibility and liquidity.