PAXOS PRACTICAL USE FOR FASTER STOCK SETTLEMENT

Wedbush Securities is using Paxos, (PAX) to take advantage of Paxos same day stock trade settlement capability. This will give WedBush an advantage over other settlement firms that typically take up to two days for a trade settlement to clear. The SEC allowed Paxos to launch a program to settle trades in 2019. Paxos has since attracted many big players form the traditional world of finance.

PAX is an ERC20 stable coin that is powered by the Ethereum network. PAX is pegged to the US dollar.
The success of PAX is greatly related to Charles Cascarilla is the CEO and co-founder of Paxos. He is also the founding board member of the Association for Digital Asset Markets (ADAM), and a partner at Liberty City Ventures.

He also co-founded and is a partner at Cedar Hill Capital Partners, and his past experience includes a portfolio manager at Claiborne Capital Management, financial analyst at Goldman Sachs and analyst at the Bank of America.

Rich Teo is the second co-founder of Paxos. Before that, he worked as a principal/senior Analyst at Cedar Hill Capital Partners. He was also a financial analyst at Citi, and a combat signaler at the Singapore Armed Forces.

Using the power of blockchain stock trades can be settled within minutes compared to days. This my be a case "who you know and what you know". Regardless the well connected founders have taken the power and speed of blockchain to financial markets giving their associates an advantage of firms using traditional settlement processes.