NEW YORK--(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 business@procustody.com.
About Prometheum
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
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