Paxos becomes first SEC-registered crypto clearing and…

Paxos has secured registration with the U.S. Securities and Exchange Commission as a clearing and settlement agency — the first and only crypto-native firm to hold that designation. The milestone marks a significant regulatory legitimization of blockchain-based settlement infrastructure at the highest level of U.S. financial oversight.

Clearing and settlement agencies sit at the plumbing layer of capital markets, handling the post-trade reconciliation that ensures securities transactions actually close. Bringing that function on-chain under a formal SEC registration means Paxos can now operate within the same regulatory perimeter as traditional clearinghouses — a structural shift, not just a compliance checkbox.

For the broader market, the registration signals that U.S.