Paxos has achieved a significant milestone by becoming the first blockchain-native firm to receive full approval from the U.S. Securities and Exchange Commission (SEC) as a registered clearing agency. This approval allows Paxos to offer same-day T+0 settlement for U.S. equities, marking a pivotal shift in traditional capital markets. The decision positions Paxos to directly compete with legacy infrastructure providers like the Depository Trust and Clearing Corporation (DTCC). The SEC's approval enables Paxos to operate as a central securities depository (CSD) in the United States, providing delivery versus payment (DVP) clearance and settlement services. This regulatory milestone follows a seven-year effort by Paxos, which included a no-action relief letter in 2019 and a settlement pilot with major financial institutions. Paxos CEO Charles Cascarilla emphasized the comprehensive infrastructure the firm can now offer to financial partners, aiming to expand its presence in global capital markets. Already regulated by the New York Department of Financial Services, Paxos plans to integrate its clearing network across major trading venues, further embedding blockchain technology into institutional frameworks.