Tokenization Tango: Prometheum’s Daring Dance with Digital Assets! 💃🕺

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What to know:

  • Prometheum, darling, is all set to waltz into the tokenization boom by acquiring a broker-dealer and launching a digital transfer agent, all under the watchful eye of the SEC. How thrilling! 🎉
  • Asset tokenization is not just a passing fancy; it’s a fast-growing market that could be worth trillions! Yes, trillions! As firms scramble to embrace blockchain like it’s the latest fashion trend. 💸
  • With this latest pirouette, the firm is offering a fully-integrated platform for tokenized securities, from the first blush of issuance to the glamorous secondary market trading, as co-CEO Aaron Kaplan so eloquently put it. Bravo! 👏

Ah, Prometheum, the ever-controversial digital asset securities firm, is poised to leap into the lucrative tokenization boom! They’ve snagged a broker-dealer and are launching a digital transfer agent, all while the U.S. Securities and Exchange Commission looks on approvingly. How positively scandalous! 😏

Enter ProFinancial, the newly acquired FINRA-member and SEC-registered broker-dealer, ready to offer primary sales of various securities products. It’s like giving issuers a golden ticket to raise capital in tokenized form. Meanwhile, Prometheum Coinery is busy handling shareholder records and corporate actions, both on and off the blockchain. Quite the juggling act! 🎪

These additions are simply building on their existing services for custody, clearing, and secondary trading via their affiliated broker-dealers, Prometheum Capital and Prometheum ATS. A veritable empire in the making! 🏰

With this latest move, the company is positioning itself as one of the few U.S.-regulated players offering a vertically integrated route for bringing real-world assets into a blockchain-native format. A feat that will surely become more critical as the tokenization trend matures. How avant-garde! 🌟

“Securities, commodities, everything else is moving on-chain, and there needs to be an infrastructure for that,” Aaron Kaplan, co-CEO, told CoinDesk in a moment of sheer brilliance. “We are in a prime position, in my opinion, to be a significant player in that growing ecosystem.” Well, aren’t we all just a bit impressed? 😌

The expansion comes at a time when asset tokenization is emerging as one of the fastest-growing corners of crypto tech, with U.S. regulators finally showing a friendlier face towards digital assets. Tokenization is the new black, darling! 💅

It’s no surprise that tokenization firms are scrambling to seize the opportunity as the sector heats up. Recently, digital asset manager Superstate registered its transfer agent with the SEC and unveiled a tokenized equity trading platform. Meanwhile, Securitize, backed by BlackRock and Jump Crypto, has been busy purchasing MG Stover’s fund administration business. The competition is fierce! 🔥

Founded in 2017, Prometheum has made headlines with its attempts to comply with the Gary Gensler-led SEC, known for its rather stern approach to crypto. The company has certainly stirred the pot in the digital asset industry, aiming to provide securities-focused services for cryptocurrencies like ether. Quite the audacious move! 😲

With these new entities, the firm can now offer a fully-integrated platform for tokenized securities, from initial issuance to secondary market trading and custody, all while adhering to U.S. securities laws. A Herculean task, if you ask me! 💪

“It’s a much bigger lift than what was done previously with these other [tokenization] firms,” Kaplan remarked, with a twinkle in his eye. “Creating a digital token of an asset is the ‘low-hanging fruit,’ while handling trading and post-trading is ‘exponentially harder.'” How delightfully candid! 😏

“The harder parts are what we built first,” he continued, “while others went for the low-hanging fruit and have had a harder time transitioning.” A classic case of putting the cart before the horse, wouldn’t you say? 🐴

“So with this announcement, it’s pretty clear that the low-hanging fruit is in our purview,” he concluded, with a flourish. Bravo, indeed! 🎭

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2025-05-27 16:39