Prometheum Capital Authorized to Offer Correspondent Clearing Services for Blockchain-Based Securities Trading.

Prometheum Capital, a subsidiary of market infrastructure provider Prometheum, has been authorized to offer correspondent clearing services for blockchain-based securities trading. This allows third-party broker-dealers to access and transact in on-chain securities through Prometheum's FINRA member and SEC-registered broker-dealer network. The move supports the modernization of U.S. capital markets and accelerates institutional and retail access to on-chain securities.

Prometheum Capital, a subsidiary of market infrastructure provider Prometheum, has been authorized to offer correspondent clearing services for blockchain-based securities trading. This authorization allows third-party broker-dealers to access and transact in on-chain securities through Prometheum's FINRA member and SEC-registered broker-dealer network. The move supports the modernization of U.S. capital markets and accelerates institutional and retail access to on-chain securities.

The authorization follows a strategic partnership between Prometheum ATS and Syntax Data, which aims to bridge traditional indexing with blockchain-enabled market infrastructure. The collaboration will extend Syntax Direct's direct indexing capabilities to registered investment advisors (RIAs) and other institutions trading through Prometheum ATS. Additionally, the firms plan to explore the creation of bespoke indices, enabling the development of on-chain investment products from RIAs, asset managers, banks, and product issuers [2].

This development aligns with broader trends in the financial industry, which are increasingly embracing blockchain technology to enhance efficiency, transparency, and security. As blockchain-based securities gain traction, the ability to clear and settle transactions seamlessly and securely is crucial. Prometheum's correspondent clearing services are designed to meet these needs, providing a robust infrastructure for the growing market of on-chain securities.

The authorization also underscores the commitment of Prometheum and its subsidiaries to fostering innovation and growth in the financial sector. By offering correspondent clearing services, Prometheum aims to facilitate smoother integration of blockchain technology into the existing financial ecosystem, making it more accessible to a wider range of participants.

References:
[1] https://www.mediasourceportal.com/announcements.html
[2] https://www.mediasourceportal.com/announcements.html