The financial group will become a regular user of the blockchain platform Paxos Settlement Service, giving its customers free access to blockchain technologies
Thanks to this cooperation, U.S. banks will be able to perform transactions day in and day out, although this process is usually extended by 2 days on the stock market.
Paxos launched its brokerage business in July last year. The first user of the platform was the American division of Revolut. In the future, the platform was joined by the payment system PayPal to give its customers the opportunity to manage crypto assets.
In April, we wrote that Paxos had obtained a National Trust Bank license. After that, representatives of Nomura Holding showed interest in this platform. We are talking about three companies, including such large financial institutions as Credit Suisse and Societe Generale.
Thus, cooperation with Bank Of America is not the last in Paxos' track record.