Paxos Launches Crypto Trading Financial Advisor for Broker-Dealers

New the feature gives brokers the infrastructure for financial advisors to trade cryptos for clients

NEW YORK, June 7, 2022 /PRNewswire/ — Paxos, the leading regulated blockchain infrastructure platform, has announced the launch of crypto financial advisory trading within Paxos Crypto Brokerage. This feature enables brokers to provide a comprehensive wealth management solution to financial advisors so they can seamlessly trade crypto on behalf of their clients. This new feature will help advisors and their clients overcome barriers to accessing the fastest growing asset class.

Recent survey data revealed that only 15% of financial advisors allocated crypto in client accounts, yet 94% of financial advisors received questions about crypto from clients. Paxos Crypto Brokerage’s crypto trading financial advisor will help brokers create a seamless experience for their financial advisors and clients to enjoy the benefits of the crypto ecosystem, including tax, allocation, settlement and commission that also adhere to the pricing requirements of other asset classes.

Paxos crypto trading financial advisor also enables several unique features that differentiate it from other crypto infrastructure providers. This includes the ability for brokers to allow Registered Advisors (RAs) and Financial Advisors (FAs) to trade or manage end-user assets at their discretion, including trade allocations, verify the identity of RAs or FA to meet compliance requirements through independent sanction monitoring. , and attach an RA or FA to each transaction to create a clear record of discretion for each transaction.

Through Paxos Crypto Brokerage, brokers will also assist Registered Advisors and Financial Advisors to trade or manage end-user assets at their discretion, meet compliance requirements through independent sanction checks, and create a clear record. discretion for each transaction by attaching an RA or FA to each transaction.

“Crypto is growing across industries, and we’re proud to provide this new platform that enables financial advisors to access crypto for their clients,” said Walter Hessert, Head of Strategy at Paxos. “As interest in crypto continues to grow, it is important to recognize that technology will underscore a company or industry’s success in this area. Our goal is to provide our customers with the ability to access seamlessly to crypto safely and efficiently.”

Interactive Brokers, one of the largest online brokerage companies in the world with over $320 billion in Custody Assets, has already launched Financial Advisory Crypto Trading Access to provide crypto access to this key customer segment.

“We are excited to provide access to cryptocurrency markets for financial advisors who want to integrate digital assets into their clients’ portfolios,” said Steve Sander, Senior Vice President of Marketing and Product Development at Interactive Brokers. “Enabling cryptocurrency trading alongside the many other asset classes available on the Interactive Brokers platform is another example of our continued focus on providing financial advisors with the products and tools they need to create successful businesses.”

About Paxos

Paxos is the leading regulated blockchain infrastructure platform. Its products are the foundation of a new open financial system that can work faster and more efficiently. Today, billions of dollars are locked away in inefficient and outdated financial plumbing, inaccessible to millions of people. Paxos is reforming the financial system to allow assets to move instantly anywhere in the world, anytime, reliably.

Paxos uses technology to tokenize, hold, exchange and settle assets. He builds enterprise blockchain solutions for institutions such as PayPal, Interactive Brokers, Meta, Mastercard, MercadoLibre, Bank of America, Credit Suisse, Société Générale and Revolut. Paxos is a top-funded fintech company with over $540 million raised from top-tier investors including Oak HC/FT, Declaration Partners, Founders Fund, Mithril Capital, and PayPal Ventures. With offices in New York, London and Singapore, Paxos takes a holistic approach to modernizing the financial system.

Media Contact:
Becky McClain
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