Prometheum Inc. has a digital transfer agent and has acquired ProFinancial Inc.
Officials at Prometheum Inc., a market infrastructure provider for blockchain-native securities, report that they have registered Prometheum Coinery LLC as a digital transfer agent with the U.S. Securities and Exchange Commission (SEC) and acquired ProFinancial Inc., an SEC-registered and FINRA-member broker-dealer.
These actions make Prometheum “one of the only platforms to offer end-to-end lifecycle support for on-chain securities — from capital formation and issuance to public secondary market trading, custody, and settlement — all under existing U.S. securities law,” officials say. “This development completes the market infrastructure needed to move the $130+ trillion U.S. securities market onto blockchain rails — and into liquid, accessible public secondary markets for the first time.”
Prometheum Coinery “will provide on- and off-chain shareholder recording and will facilitate corporate actions such as dividend distributions and governance processes,” according to the announcement. “ProFinancial, a broker-dealer authorized to conduct primary sales of equity, debt, mutual funds, and other securities products, will enable capital formation for product issuers.”
The new capabilities “complement Prometheum ATS and Prometheum Capital, which will provide services for on-chain securities trading, custody, clearing, and settlement,” officials add.
“Financial institutions are increasingly exploring how to issue and distribute securities and investment funds on-chain without stepping outside the bounds of U.S. securities laws,” says Aaron Kaplan, founder and co-CEO of Prometheum Inc., in a prepared statement. “With these additions, Prometheum empowers issuers with a vertically-integrated solution for capital formation, qualified custody, secondary trading, and post-trade services — all within the framework of U.S. securities laws.”
Prometheum Inc. offers support for the issuance, trading, and custody of blockchain-based securities, officials say. Its subsidiary broker-dealers are Prometheum ATS (secondary market trading), Prometheum Capital (custody, clearing, and settlement), Prometheum Coinery (digital transfer agent), and ProFinancial (capital formation and distribution).
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