Prometheum to Offer Correspondent Clearing for Blockchain-Based Securities

Prometheum Inc., a market infrastructure provider for blockchain-based securities, has announced that its subsidiary, Prometheum Capital, is now authorized to provide correspondent clearing services to third-party broker-dealers. The FINRA-member and SEC-registered firm will enable introducing broker-dealers to transact in on-chain securities under federal securities laws.

Correspondent clearing allows Prometheum Capital to handle clearing, custody, execution, and recordkeeping for other broker-dealers, expanding client access to on-chain securities. With over $24 billion of securities already issued on blockchain networks, this MOVE is seen as a critical step in modernizing U.S. capital markets and accelerating institutional and retail participation.

"Financial markets are evolving from electronic to digital, blockchain-enabled infrastructure," said Aaron Kaplan, founder and co-CEO of Prometheum. The shift is expected to facilitate the migration of the $130 trillion securities industry onto blockchain rails.