Paxos’ blockchain infrastructure will allow investors to trade cryptocurrencies alongside other asset classes through one unified platform.
The exercise between Credit Suisse and Nomura's Instinet demonstrated the ability for firms to execute and settle US equities trades conducted throughout the day.
In launching the service, the platform will allow for the simultaneous exchange of cash and securities between broker-dealers to settle US listed-equities trades.
Paxos has been given the green light to launch its blockchain-based settlement service for certain broker-dealers, including Credit Suisse and Societe Generale.
Paxos appoints former NYSE CEO as it looks to strengthen position in blockchain post-trade settlement.