Prometheum Capital recently disclosed that it intends to enhance its offerings in digital asset management. Tokens will soon be added to the list after adding Ether custody, Uniswap (UNI, and Arbitrum (ARB). This move is intended to strengthen its services for institutional and corporate clients.
Prometheum Adds UNI and ARB to Custody
Adding UNI and ARB expands Prometheum Ventures’ offerings outside of Ethereum. The firm also revealed that it plans to launch custodial services for institutional investors by the end of the third quarter. This will be in line with the expansion of its asset offerings, which will include debt, equities, ETFs, and more in the future, using blockchain technology in issuing and transferring assets.
Prometheum’s products are also expected to increase in trading coverage. The firm intends to offer various investment products to ensure that it meets set regulatory requirements. “With our current and future trading offerings expanding, Prometheum reaffirms its focus on compliance and the development of solutions within the existing regulatory environment,” a representative said.
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Prometheum has already achieved a lot as a regulatory body since it was granted a special-purpose broker-dealer license by the U.S. Securities and Exchange Commission (SEC) last year. This license specifically allows Prometheum to provide these additional services legally.
Digital Asset Classification Sparks Controversy
Despite Prometheum’s many accomplishments in regulatory innovation, the company has not been without its share of controversies. It has been under intense scrutiny and regulatory pressure, especially from the Blockchain Association and some Republican politicians. Nevertheless, Prometheum has confirmed that it operates within the framework of U.S. securities laws.
The controversy surrounding the legal status of digital assets such as cryptocurrencies remains ongoing. According to SEC Chair Gary Gensler, most digital assets fall under the securities category. On the other hand, Commodity Futures Trading Commission Chair Rostin Behnam considers Ether a commodity. This divergence shows that regulatory gaps can still influence the digital asset markets.
When it comes to potential regulatory changes, Prometheum has been quite proactive. The spokesperson added:
“We are always watching the changes in the law and regulations regarding our services and making any necessary compliance changes.”
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