Blockchain-based market infrastructure provider Prometheum has simultaneously registered Prometheum Coinery as a digital transfer agent with the US Securities and Exchange Commission (SEC) and acquired ProFinancial, a broker-dealer registered with SEC and the Financial Industry Regulatory Authority (FINRA). The additions will allow Prometheum to “support the complete lifecycle of securities issued and transferred on the blockchain… through its network of SEC-registered and FINRA member broker-dealer affiliates”.
Prometheum Coinery will handle on- and off-chain shareholder recording as well as facilitate corporate actions such as dividend distributions and governance processes. ProFinancial, as a broker-dealer authorised to conduct primary sales of equity, debt, mutual funds, and other securities products, will enable capital formation for product issuers.
These new capabilities are meant to complement Prometheum ATS and Prometheum Capital, which provide services for on-chain securities trading, custody, clearing, and settlement
Prometheum founder and co-CEO Aaron Kaplan says, “In today’s market, blockchain issuance alone isn’t enough – firms need infrastructure that mirrors the functionality of capital markets.” These additions give issuers “a vertically-integrated solution for capital formation, qualified custody, secondary trading, and post-trade services” while keeping within the framework of US securities laws.
