> From the article.
The approval represents a “critical piece of financial market infrastructure” as blockchain technology and traditional capital markets continue to converge, the company added.
Clearing agencies ensure securities trades are executed cleanly. Stock buyers and sellers do not trade directly and need clearing and settlement providers that verify the trade, match the buyer and seller, and then ensure the actual exchange of money and securities happens correctly.
A registered, SEC-approved blockchain clearinghouse removes barriers for banks and brokerages to build crypto-based infrastructure.
