ABN AMRO Clearing Chicago Joins the Paxos Settlement Service

Paxos, a regulated Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term infrastructure platform, announced on Monday that ABN AMRO Clearing Chicago has joined its settlement service, becoming the sixth broker-dealer client in doing so. According to the press release, the firm has been operating a pilot phase of the settlement service under the US Securities and Exchange Commission (SEC) supervision.

Bank of America, Credit Suisse, Instinet, Societe Generale, Wedbush, among others, are among the ones who have already partnered with the blockchain infrastructure platform to use the service, dubbed ‘Paxos Settlement Service.’

“We’re pleased to add ABN AMRO Clearing to our platform as we transform post-trade infrastructure in the securities industry. Paxos has demonstrated an ability to innovate and deliver compelling enterprise-grade solutions in a complex and high-value market. By working closely with our industry clients, we’ve been able to streamline back-office processes, offer scalable same-day net settlement and enable opportunities for business development,” Greg Lee, Managing Director of Paxos, commented on the announcement.

Currently, Paxos is on the stage of a full clearing agency registration application with the SEC. Additionally, after being green-lighted by the US regulator, the firm expects to deploy multilateral netting processes in real-time to settle transactions.

Interactive Brokers Partnership

Last week, Interactive Brokers LLC announced the official launch of its cryptocurrency trading services through Paxos. The brokerage’s clients are now able to trade and custody assets, such as Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Also, the firm said that crypto trading on the platform would have commissions of between 0.12% and 0.18% of the trade value, depending on the monthly volume.

“Consumer interest in accessing digital assets through trusted intermediaries is driving a shift in the financial industry. Paxos provides the regulated blockchain infrastructure to ensure enterprises can enable crypto safely and with reduced risk,” Charles Cascarilla, CEO and Co-Founder of Paxos, pointed out at that time.