Today Paxos Trust Company announced that Société Générale has been using the Paxos Settlement Service to settle U.S. equity transactions using blockchain. It’s the third broker dealer to go live in addition to Credit Suisse and Instinet.
“We believe that by streamlining equities settlements with the Paxos Settlement Service we’ll be able to deliver meaningful efficiency in our settlement operations in the long-term,” said Jeffrey Rosen, COO, Americas Global Markets at Societe Generale.
The solution enables the participants to settle bilateral transactions using a private permissioned version of the Ethereum blockchain.
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