Paxos CEO Chad Cascarilla announced at Solana Breakpoint that the company has applied to the SEC to become a clearing agency. In the future, it will directly custody and issue on-chain stocks and bonds, promote the on-chain of traditional financial assets, and enhance market liquidity and accessibility.

Odaily Planet Daily reports that Paxos co-founder Chad Cascarilla stated that Paxos has applied to the SEC to become a clearinghouse. This move will enable Paxos to directly hold bonds and stocks and issue them natively on the blockchain, allowing users to hold actual underlying assets rather than derivatives.

Crypto assets expert Chad Steingraber posted on X predicting that the Franklin Templeton XRP ETF, once launched, could see a volume of up to 30 million dollars. The fund received listing approval from the New York Stock Exchange last week and is set to officially go live today. He expects the fund's trading volume on its first day to reach the equivalent of 15 million XRP and aims to hit 50 million XRP. Steingraber mentioned that Franklin Templeton usually launches new products cautiously. Real growth will be gradual, and it will take a certain performance record for financial advisors to start recommending the product.