Prometheum Capital, a subsidiary of Prometheum Inc., has been approved to offer correspondent clearing services to third-party broker-dealers. The authorisation allows the firm, according to a press release, to provide clearing, custody, execution, and recordkeeping services for securities issued and settled on blockchain infrastructure.
Operating as a FINRA member and an SEC-registered special purpose broker-dealer (SPBD), Prometheum Capital will support broker-dealers that are looking to engage in blockchain-based securities while remaining within the framework of existing U.S. securities regulation.
Increasing interest
The approval comes at a time of increasing interest in on-chain securities. According to data from RWA.xyz, over USD 24 billion in securities have already been issued on blockchain networks. Despite this, many broker-dealers face regulatory and operational hurdles when attempting to offer clients access to such assets.
Correspondent clearing is a key mechanism for broadening access. It allows broker-dealers who are not directly equipped to handle on-chain transactions to use Prometheum Capital’s infrastructure to offer these services to their clients.
Limited number
Prometheum’s expanded role positions it among a limited number of firms aiming to provide regulated infrastructure for digital asset markets. The company states that its goal is to enable broker-dealers to offer blockchain-based securities alongside traditional products, creating what it sees as a more integrated path toward digital market adoption.
