SEC-Approved Platform Welcomes OP and GRT
According to The Bit Journal, the U.S. SEC continues to classify most tokens as securities, leading to ongoing conflicts between the broader crypto industry and the regulatory body. While many in the industry resist this classification, Prometheum has aligned itself with the SEC’s perspective on digital assets. This approach has allowed institutional clients to start using its services for ETH, UNI, and ARB. Recently, the platform added Optimism (OP) and The Graph (GRT) to its list of supported assets.
Prometheum’s Untested Advantage
Prometheum is the first crypto-specific broker-dealer fully registered under SEC regulations, with licenses for clearing and settlement. This status positions Prometheum as a potential one-stop shop for institutional investors. While it was the only platform with such a status until this week, tZero Group Inc. has also obtained the same broker-dealer license and plans to launch products next year.
Despite this, many in the crypto industry and several prominent Republican lawmakers argue that operating a crypto business under current securities laws is challenging. Prometheum has yet to disclose any clients or revenue, but Kaplan reports there is “tremendous interest” from potential users and issuers.
Prometheum’s CEO: “We Aim to Be the PayPal of Crypto”
In a recent interview, Co-CEO Aaron Kaplan highlighted Prometheum’s ambition to become the PayPal of digital assets. Kaplan emphasized the need for a compliant infrastructure that covers the “full lifecycle” of on-chain securities products, especially as interest in asset tokenization grows. Benjamin Kaplan added that the addition of the five tokens is just the beginning, suggesting more tokens will be added to the platform soon.
The company has not yet provided a public timeline for the launch of its trading and settlement services, but Kaplan hinted at exciting developments ahead for Prometheum.
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