The SEC-approved crypto platform, Prometheum Inc., has officially opened its custody services to institutional clients. After a soft launch with Ethereum (ETH), the platform has now added Uniswap (UNI) and Arbitrum (ARB) to its supported assets. Additionally, Prometheum announced it will soon expand its custody services to include Optimism (OP) and The Graph (GRT). Co-CEO Aaron Kaplan revealed that Prometheum aims to become the PayPal of crypto.
SEC-Approved Platform Welcomes OP and GRT
As reported by The Bit Journal, the U.S. SEC continues to categorize most tokens as securities, sparking ongoing battles between the broader crypto industry and the regulatory body. While many in the space resist this classification, Prometheum has taken a different approach by aligning itself with the SEC’s view on digital assets. This strategy has opened the door for institutional clients to begin utilizing its services for ETH, UNI, and ARB. In a recent development, the platform added two more tokens to its list: Optimism (OP) and The Graph (GRT).
Benjamin Kaplan, CEO of Prometheum Capital and Co-CEO of Prometheum Inc., confirmed that their custody services are now live, following a successful soft launch. He also mentioned that the company is preparing to roll out trading operations in the “very near future.”
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Prometheum’s Untested Advantage
Prometheum stands as the first crypto-specific broker-dealer fully registered under SEC regulations, which also grants it licenses for clearing and settlement. This positions Prometheum as a potential one-stop shop for institutional investors. Until this week, it was the only platform with such a status, but now tZero Group Inc. has also obtained the same broker-dealer license and aims to launch products next year.
However, most of the crypto industry and several prominent Republican lawmakers argue that running a crypto business under current securities laws is impossible. To date, Prometheum has not disclosed any clients or revenue, but Kaplan maintains there is “tremendous interest” from potential users and issuers.
Prometheum’s CEO: “We Aim to Be the PayPal of Crypto”
Speaking in an interview, Co-CEO Aaron Kaplan emphasized that Prometheum is positioning itself as the PayPal of digital assets. He stressed the need for a compliant infrastructure that covers the “full lifecycle” of on-chain securities products, particularly as interest in asset tokenization grows. Benjamin Kaplan, referring to the addition of the five tokens, stated, “This is just the beginning,” hinting that more tokens will be added to the platform soon.
The company has not yet provided a public timeline for the launch of its trading and settlement services, but Kaplan hinted at exciting developments ahead for Prometheum.
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