Paxos Adds Wedbush Securities in Quest for Same-Day Stock Settlement

Paxos Adds Wedbush Securities in Quest for Same-Day Stock Settlement

Wedbush Securities has joined the Paxos Settlement Service, a post-trade settlement platform for U.S. securities that uses blockchain technology for faster and more transparent results.

The investment firm with $2.4 billion under management has been bullish about blockchain and cryptocurrency since back in the early days, as well as being a longtime innovator in securities clearing. 

Wedbush joins Credit Suisse, Instinet and Societe Generale in the Paxos program, which is built using a permissioned fork of Ethereum that allows two parties to bilaterally settle securities trades directly with each other.