NEW YORK, February 07, 2024–(BUSINESS WIRE)–Prometheum Inc., today announced that its subsidiary Prometheum Capital LLC will initially provide custodial services for Ethereum’s ether (ETH) token. This development follows the company’s recent approval of its membership application from the Financial Industry Regulatory Authority (FINRA) as a Special Purpose Broker-Dealer (SPBD) permitted to custody, clear, and settle digital asset securities.
Prometheum Capital has opened its signup process for institutional clients encompassing asset management firms, hedge funds, Registered Investment Advisors (RIAs), banks, and financial institutions, in anticipation of the platform’s custodial services launch in Q1 2024.
ETH will be custodied at a FINRA member firm and a SEC-registered broker-dealer for the first time, setting a precedent for the digital asset sector. Prometheum Capital plans to introduce additional digital assets for custody, with further announcements forthcoming.
“Prometheum Capital’s custodial services, starting with ETH, are tailored to meet the stringent regulatory and compliance standards promulgated by the Federal Security Laws,” Prometheum, Inc. Co-CEO Aaron Kaplan said. “Our unwavering commitment to compliance and investor safeguarding drives this milestone, signifying substantial progress towards establishing a new paradigm for blockchain-enabled market infrastructure.”
Plans are in place to extend trading, clearing, and settlement services to both retail and institutional clients in 2024, fostering an inclusive and accessible platform for all.
To inquire about Prometheum’s custodial solutions, please contact [email protected].
Founded in 2017 by a group of Wall Street attorneys, Prometheum provides an end-to-end, blockchain-enabled ecosystem for the trading, clearance, settlement and custody of digital asset securities.
Prometheum, Inc. Disclosure
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. Furthermore, nothing in this press release should be construed as a recommendation to buy, sell, or hold any investment or security or to engage in any investment strategy or transaction. Prometheum does not represent that the securities, products, or services discussed in this press release are suitable for any particular investor.
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.
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