European bank becomes the sixth broker-dealer to join the service, which already includes Bank of America, Credit Suisse, Instinet, Societe Generale and Wedbush.
The exercise between Credit Suisse and Nomura's Instinet demonstrated the ability for firms to execute and settle US equities trades conducted throughout the day.
In launching the service, the platform will allow for the simultaneous exchange of cash and securities between broker-dealers to settle US listed-equities trades.
Credit Suisse and Societe Generale have been confirmed as the first two banks to use the Paxos Settlement Service.
The company will use the new resources to significantly scale operations and accelerate the delivery of a new settlement platform.