In 2024, Prometheum became the first to operationalize the special purpose broker-dealer (SPBD) license for digital asset securities custody through its subsidiary Prometheum Capital, and significantly expanded its employee and investor base
Prometheum Inc., an infrastructure provider for digital asset securities, has raised approximately $20 million in 2024 from a group of high-net-worth investors and institutions. The capital will support Prometheum’s continued hiring and development plans in 2025 as it completes the rollout of its vertically integrated, blockchain-enabled ecosystem for the trading, clearance, settlement, and custody of digital asset securities through its SEC-registered and FINRA member affiliate subsidiaries, Prometheum Capital and Prometheum ATS.
Prometheum integrates digital asset securities and the underlying blockchain technology into traditional financial markets. Digital asset securities are securities issued and transferred on a blockchain, including investment contracts, equities, debt instruments, ETFs, mutual funds, money market funds, treasuries, structured products, and more.
In September 2024, Prometheum Capital became the first firm to operationalize the SPBD license by launching its custodial services for digital asset securities. Beginning with Ethereum (ETH), The Graph (GRT), Uniswap (UNI), and Arbitrum (ARB), Prometheum Capital has established a framework for the custody and post-trade processing of blockchain-issued securities under federal securities laws.
Benjamin Kaplan, co-CEO of Prometheum and CEO of Prometheum Capital, commented: “The market opportunity for digital asset securities extends well beyond ‘crypto’ or investment contracts. Financial institutions recognize that blockchain technology enables faster, more cost-efficient issuance while unlocking the potential for bespoke financial products previously considered impractical. Lower issuance costs and reduced inefficiencies due to fewer intermediaries will drive greater capital allocation to digital asset securities, creating a flywheel effect of innovation and adoption.”
In 2024, Prometheum increased its workforce by nearly 60 percent. The company plans to continue scaling its team in 2025 to support the anticipated Q1 launch of its trading services through Prometheum ATS.
Image by Gerd Altmann from Pixabay
