Market Snapshot

S&P Futures
4,114.00
Dow Futures
33,641.00
NASDAQ Futures
13,811.00

Paxos: Ambitions to become a new & open financial system

Related Topics

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp

Paxos is, in essence, a regulated block chain platform. The aim is to build an open financial system and they offer plenty of diverse products like cryptocurrency brokerage, stablecoin, gold trading, trade settlements etc.

In experimental testing, Credit Suisse and Instinet used Paxos’s platform for trade settlements. US-listed stocks were settled on the same day utilizing Paxos services. This was a hallmark victory for Paxos as it marked the first instant of the application of block chain for equities.

After the success of the pilot testing, the stablecoin operator has announced the application for a clearing agency to the SEC. A clearing agency facilitates trades between buyers and sellers. The application of the block chain technology into the stocks & equities market indicates the growing dominance of the technology.

Paxos wants to offer a comprehensive list of services in an effort to create a whole ecosystem of crypto-related financial services. The firm has also applied to the SEC to become the first regulated cryptocurrency bank. Although there are no recent developments on the application, Paxos has ventured into other projects as well.

The ultimate aim of Paxos to become the first regulated crypto service provider seems nearer and nearer every day. Paxos is implementing the block chain technology into real-world problems and scenarios which can further boost the cryptocurrency craze.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sign up for our FREE Newsletter and get:
Sign up for our FREE Newsletter and get:

SOCIAL LINKS

Latest Posts