Prometheum to Operate as Qualified Custodian for Digital Assets Securities

Historic FINRA approval ushers Prometheum Ember Capital into the world of qualified digital asset custodianship.

Prometheum Ember Capital, a subsidiary of digital asset securities investing service provider Prometheum, has clinched approval from the Financial Industry Regulatory Authority (FINRA) to operate as a Special Purpose Broker-Dealer (SPBD) for digital asset securities.

This endorsement allows Prometheum Ember Capital to safeguard digital asset securities for retail and institutional clients, positioning it as a powerful player in the evolving crypto sector.

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The new status of Prometheum Ember Capital sets it apart as a custodian under the framework of the United States Exchange Act of 1934.

Aaron Kaplan, Prometheum co-CEO, expressing his views on this exciting development, emphasized:

Digital asset investors in the U.S. are currently custodying cryptocurrencies that are securities through platforms that lack the comprehensive SEA 15c3-3 <Rule> customer protections necessitated by federal securities laws.

Prometheum Ember Capital is set to provide its groundbreaking custody services to institutional and retail customers, with eager investors able to join a waitlist via the firm’s website right now.

Recently, the US Securities and Exchange Commission (SEC) has turned a critical eye toward traditional investment firms and crypto enterprises providing digital asset custody. One of the SEC’s victims is the crypto exchange Coinbase, which recently received the securities regulator’s Wells Notice.

The approval by FINRA propels Prometheum Ember Capital into the forefront of digital asset custody, underscoring the firm’s commitment to delivering secure and regulated solutions to its client base. As it navigates the challenges and opportunities presented by the SEC’s regulatory proposals, Prometheum continues to blaze a trail in integrating cryptocurrency with traditional investment platforms, keeping its eyes on the future of digital asset trading and custody.