Paxos CEO: Has applied to the US SEC for a clearing agency license to issue on-chain stocks and bonds natively.

BlockBeats News, December 11 — Paxos Co-Founder and CEO Chad Cascarilla stated at the Solana Breakpoint Conference that Paxos has applied to the US SEC to become a clearing agency. In the future, it will be able to directly custody and natively issue on-chain stocks and bonds, allowing users to hold real underlying assets rather than derivatives. He emphasized that this will lay a key foundation for large-scale on-chain traditional financial assets. Cascarilla said that Paxos’s goal is to drive traditional assets onto the blockchain environment and continuously expand in the stablecoin and asset tokenization sectors, including the growth of USDG and gold tokenization products. He believes that public blockchains will become a unified global asset trading platform, significantly improving market accessibility and liquidity.