Bank of America Joins Paxos Blockchain Stock-Settlement Network

Wall Street is slowly, but surely adopting blockchain technology. Just recently, the Bank of America Corporation joined the Paxos Settlement Service created by the Paxos Trust Company. The service leverages blockchain technology to enable stock trade settlements within minutes instead of days. According to the official announcement, the Bank of America has already begun facilitating transactions internally in the past few months. When they get approval as a clearing agency, the firm will proceed to offer the service to their clients. In an interview, Charles Cascarilla, Paxos CEO and Founder mentioned, Back in 2019, the Securities and Exchanges Commission (SEC) approved the Paxos Trust Company to start this program that settles equity trades. In the pa… This article was first published on coinquora.com Continue reading on CoinQuora We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

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