In 2020, Paxos launched the Paxos Settlement Service, a blockchain-based network that allows two parties to bilaterally settle US listed securities trades directly with no intermediary. With the No-Action relief from the staff of the US SEC, Paxos is now settling listed equities for Credit Suisse, Instinet and Societe Generale. This is the first time that blockchain-enabled settlement is used in a live environment for publicly traded equities. Today, the Product Manager spearheading this innovation, Melayna Ingram, is here to share what it’s like to launch a groundbreaking product.
What are your day-to-day responsibilities at Paxos?
I’m the product manager responsible for working on creating new settlement infrastructure for the securities industry – we call it our securities business line. Paxos is a product led company and my role here spans across both strategic and tactical domains of building and launching products.
I work closely with our leadership and business team to set business goals for Paxos Settlement Service and lead a squad of engineers to execute against a product roadmap to deliver on our goals. To scope our work, I also work with our customers to understand how our product will interact with their systems.
Right now, the securities business is in the early adopter stage and we’re preparing for a big product launch which we hope will happen later in 2021. We’re currently finishing building product features needed in our next phase and hardening the system to maintain the highest levels of security and reliability.
What do you like about working at Paxos?
I work with a dynamic team of extremely dedicated and talented business people, software engineers, and external clients & vendors. My role is to connect the dots to find creative solutions to introduce modern settlement infrastructure to legacy technologies and processes. I love the ambitious scope of our work and mission – I feel very lucky to be working on the introduction of new technologies at such a large scale that unlock cost, increase speed and improve efficiency for our clients.
What’s your professional background?
Before Paxos, I started my career in financial services at Morgan Stanley, where I gained deep knowledge of institutional cash equities and fixed income trade flows. Then, I worked on large scale technology transformation projects at EY, consulting to some of the largest banks and broker dealers. This blend of experience gave me great insight into the securities industry and how technology could change it for the better.
What made you want to join Paxos?
I had firsthand experience of the challenges facing the financial services industry – outdated systems can constrain the market, and cumbersome processes that make it overly complex. I believe new market infrastructure built with modern technology can unlock endless possibilities. Paxos’ mission is to create a global, frictionless and open economy. My personal philosophy is aligned with Paxos and I believe it’s the best positioned company to achieve a grand vision.
What goals do you have for yourself at Paxos?
I want to continue growing as a product manager and grow the size of the product team in the securities business. 2021 is a really exciting year for securities – we are actively growing the team as we move closer to some large business milestones this year. It’s all very exciting and I want to play an impactful role in developing a product that can revolutionize financial markets.
Paxos is hiring in all functions, and we’re looking for the best talent to change the financial industry.