Saturday, November 26, 2022

Prometheum partners with Anchorage Digital on SEC-registered alternative trading system

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Prometheum Ember ATS announced the launch of its alternative trading system (ATS) on Oct. 26. The new ATS is registered by the United States Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority.

Prometheum Ember ATS will offer digital asset securities trading, clearing, settlement and custody. The new ATS has partnered with Anchorage Digital Bank to help it provide its service, which is meant to “seamlessly integrate with legacy securities trading systems.”

Prometheum stated that its ATS “enables institutions to trade digital asset securities under Federal Securities Laws.” It will initially support digital assets Flow, Filecoin, The Graph, Compound and Celo. Prometheum founder and co-CEO Aaron Kaplan said in a statement:

“Prometheum sets itself apart by maintaining the ability to be sustainably compliant under current securities laws, ensuring the multi-layer protections and standards required on Wall Street.”

Prometheum Ember ATS said in its statement that it will make the system’s full functionality available to all users “regardless of trading activity, volume, experience, or account size.”

It has been a long journey to SEC approval for Prometheum Ember ATS, which announced its intention to receive registration in March 2021. The New York-based Prometheum, which was founded in 2017, was already operating as a crypto exchange at that time.

Related: SBF: FTX to filter assets it thinks are securities from US listings until registration in place

Prometheum Ember ATS is one of several partnerships Anchorage Digital Bank has established to advance its business. In June, Anchorage Digital announced it was working with Binance.US, CoinList, Blockchain.com, Strix Leviathan and Wintermute to segregate institutional client funds from exchanges into regulated asset vaults. Anchorage Digital President Diogo Mónica recently shared with Cointelegraph that the bank is preparing to enter the Asian market. Mónica has also called for greater regulatory clarity in the United States.

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