It was announced Monday that Bank of America has joined with Paxos, a blockchain-based settlement network for U.S. equities. BoA becomes the third bank, along with Credit Suisse and Nomura, to try out the Paxos Settlement Service. The regulator-approved service is currently limited to internal transactions.
The second-largest U.S. bank has been conducting internal transactions for months on its own. Now, if approved as a clearing agency, Bank of America will begin to offer the service to customers as well.
