Paxos officially enters the securities trading market

The project will become the first regulated exchange platform in the securities and assets market. The US Securities Commission authorized the launch of the service at the official level, providing the company with a letter.

High technologies, the Internet and special programs are used to exchange securities. But on the whole, the sphere did not change technically for 40-50 years. The creators of the Paxos project plan to simplify the industry, make it clearer and more accessible through the implementation of blockchain. Thus, any user can quickly buy securities and safely manage their assets.

The project uses a private blockchain to operate, which guarantees the safety of information about transactions. Organizations such as Credit Suisse and Societe Generale have already joined the platform. Through cooperation, they plan to reduce costs and attract new customers for trade.

According to the head of Paxos, Melaina Ingram, the service itself was developed two years ago. After that, the company has long sought official permission from the SEC, but it was possible to apply for the letter only six months ago.

As a result, the US regulatory authority sent a letter according to which it does not interfere with the launch of the regulated platform. This step should be an important milestone in the legalization and worldwide recognition of cryptocurrencies. Perhaps in the future, in addition to securities, tokens and digital money will be traded on the Paxos platform.