Prometheum Ember Capital LLC (“Prometheum Capital”), a subsidiary of Prometheum Inc., announced today the launch of its digital asset securities custody platform. Financial institutions, corporates, and institutional investment firms can now custody digital asset securities through Prometheum Capital, a FINRA member firm and SEC-registered special purpose (“SPBD”) broker-dealer for digital asset securities.
As an SPBD, Prometheum Capital is a ‘qualified custodian’. Unlike most crypto venues and other trading or custodial platforms in the U.S. that operate under state licenses, Prometheum Capital is tailored to meet the regulatory and compliance standards promulgated by the federal securities laws including the Securities and Exchange Act (“SEA”) 15c3-3 Customer Protection Rule and reporting requirements under 17A-5.
“Continued growth and product expansion in digital assets hinges on trusted and reliable custody solutions. Prometheum believes that investors and product issuers need a partner operating under the full rigor of federal securities laws,” said Aaron Kaplan, co-CEO of Prometheum, Inc. “By pioneering a path for digital asset custody in this way, Prometheum aims to bridge the gap between traditional finance and the emerging digital asset ecosystem, allowing all types of investors to participate.”
Prometheum Capital now supports Optimism (OP) and The Graph (GRT), building on its existing offerings for Ethereum (ETH), Uniswap (UNI), and Arbitrum (ARB). Future plans include onboarding traditional securities including debt, equities, ETFs, mutual funds, options, money market funds, and other investment contract products issued and transferred on a blockchain.
Prometheum Capital is committed to expanding access to digital asset securities for all investors, including expanding custody services to retail investors in the near future. At the same time, Prometheum Capital is developing an advanced platform for RIAs, providing the tools needed to efficiently manage and grow their clients’ digital asset portfolios.
To access Prometheum Capital’s custodial services, sign up here or contact business@procustody.com.
About Prometheum, Inc.
Founded in 2017 by a group of Wall Street attorneys, Prometheum Inc. through its affiliate Prometheum ATS (trading) and Prometheum Capital (settlement, clearing, and custody) will provide an end-to-end, blockchain-enabled ecosystem for the trading, clearance, settlement, and custody of digital asset securities. For more information, please visit https://www.prometheum.com.
Digital asset securities may not be suitable for all investors.
Digital asset securities may not be suitable for all investors. Investors should note that investing or trading in digital asset securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, and no assurance of liquidity, which could impact their price and the investor’s ability to sell, and possible loss of principal invested. There is always the potential of losing part or all of your money when you invest in digital asset securities. Not SIPC or FDIC insured
Regulatory changes may impact digital asset securities. Current and future legislation, SEC and CFTC rulemaking, and other regulatory and legal developments may impact the manner in which certain digital assets securities we are custodying are classified. The SEC has stated that certain digital assets may be considered “securities” under the federal securities laws. To the extent that any of the digital asset securities we are currently custodying are not deemed to be securities in the future we may not be permitted to continue to custody said securities.
Non-solicitation
This press release is issued for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by Prometheum Inc., Prometheum ATS, and Prometheum Capital (collectively “Prometheum’’), or any other third party regardless of whether such security, product, or service is referenced in this press release.
Forward-looking statement
Statements herein that are not historical or current fact are “forward-looking statements” that are based on the Company’s beliefs, assumptions, and expectations of future events, taking into account the information currently available to the Company. These forward-looking statements are subject to numerous uncertainties and factors relating to the Company’s proposed business and operations, as well as uncertainties relating to capital markets, some of which are difficult to predict and many of which are beyond the Company’s control. Any forward-looking statements herein are based upon information available to the Company on the date this was first sent by the Company. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized.
