The Currency Analytics
By Steven Anderson
Credit Suisse and Société Générale on Paxos Standard
Ingram on Paxos Standard
Paxos Standard digitizes and mobilizes asset types. Paxos have recently announced the launch of the Paxos Settlement Service.
In the past year, Paxos announced the pilot consisting of two companies: Credit Suisse and Société Générale.
Melayna Ingram, Paxos' Head of Securities Products, stated, “We spent years studying the groundwork to get the pilot running.
The no-action letter from the SEC will enable the company to settle equities on the blockchain. This is also a way to understand how the product works.
Sydney Ifergan, the Crypto Expert, tweeted: “#PaxosStandard has introduced a novel concept in the way equities settlement can be done.
Jeffrey Rosen, COO of Société Générale stated that they would be able to customize the systems to suit their needs to introduce further a technology which will positively impact…
Emmanuel Aidoo, head of digital assets markets for Credit Suisse, stated that they believe in the process of securities settlement, which is greatly optimized using the blockchain.
Early this year, no-action letters were given to TurnKey Jet and Pocketful of Quarters.
Ingram stated that the front office and trading had been involved in tons of improvement in terms of speed, and the level of sophistication facilitated by the back office is…