Prometheum Selects Broadridge to Strengthen Post-Trade Lifecycle and Back-Office Operations

Rhea-AI Summary

Prometheum Capital , a subsidiary of Prometheum Inc., has chosen Broadridge Financial Solutions, Inc. for back-office solutions to enhance its digital asset securities services. Broadridge's solutions will include bookkeeping, trade capture, reconciliations, and regulatory reporting. This strategic partnership aims to establish a sophisticated, regulated market infrastructure for investors. Prometheum also plans to provide ETH custodial services this quarter.

Positive

• The partnership with Broadridge will enhance Prometheum's back-office operations and strengthen its market infrastructure for digital asset securities.

• Broadridge's solutions, including Shadow Post Trade Processing, will provide robust capabilities such as bookkeeping, trade capture, reconciliations, and regulatory reporting.

• The appointment of Albert P. Meo, CPA, as CFO and the plan to offer ETH custodial services demonstrate Prometheum's commitment to growth and innovation.

Negative

• None.

Traditional finance and evolving US digital securities market structure converge

NEW YORK--(BUSINESS WIRE)-- Prometheum Capital LLC (“Prometheum”), a subsidiary of Prometheum Inc., today announced it has selected Broadridge Financial Solutions, Inc. (NYSE: BR) for back-office solutions as the firm prepares to launch its full-suite of custody, clearing, and settlement services for digital asset securities.

Prometheum will deploy Broadridge’s Shadow Post Trade Processing Solution and Business Process Outsourcing (BPO) solutions. Prometheum will use Broadridge’s robust capabilities that include bookkeeping, trade capture, reconciliations, regulatory reporting, and more.

“Aligning our core operations with Broadridge is a critical business step for Prometheum. With their support, we’re able to advance our mission of establishing sophisticated, regulated, market infrastructure for the investing community,” said Benjamin Kaplan, CEO of Prometheum. “This strategic partnership marks an important milestone for Prometheum.”

"We are excited to collaborate with Prometheum to support the evolution of financial market structure and facilitate the ongoing expansion of digital asset securities,” added Zachary Dea, Director, Head of Product for the Shadow Post Trade Processing Solution at Broadridge. “By combining Broadridge's expertise with Prometheum's vision, Prometheum is now able to empower investors and businesses alike. Together, we are forging a path for the future of digital asset securities within the financial industry."

The partnership builds on significant milestones for Prometheum in 2024, including the appointment of Albert P. Meo, CPA, as CFO, and Prometheum announcing plans to provide ETH custodial services. Prometheum anticipates launching its custodial services this quarter.

About Prometheum Inc.

Founded in 2017 by a group of Wall Street attorneys, Prometheum Inc. provides an end-to-end, blockchain-enabled ecosystem for the trading, clearance, settlement and custody of digital asset securities.

Prometheum, Inc. Disclosure

Non-solicitation

This press release is issued for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service by Prometheum Inc., Prometheum ATS, and Prometheum Capital (collectively “Prometheum Entities’ or “Company”’), or any other third party regardless of whether such security, product, or service is referenced in this press release. Furthermore, nothing in this press release should be construed as a recommendation to buy, sell, or hold any investment or security or to engage in any investment strategy or transaction. Prometheum Entities do not represent that the securities, products, or services discussed in this press release are suitable for any particular investor.

Forward-looking statement

Statements herein that are not historical or current fact are “forward-looking statements” that are based on the Company’s beliefs, assumptions, and expectations of future events, taking into account the information currently available to the Company. These forward-looking statements are subject to numerous uncertainties and factors relating to the Company’s proposed business and operations, as well as uncertainties relating to capital markets, some of which are difficult to predict and many of which are beyond the Company’s control. Any forward-looking statements herein are based upon information available to the Company on the date this was first sent by the Company. The Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240429107339/en/

Media

Wachsman

prometheum@wachsman.com

Source: Prometheum Inc.

FAQ

What solutions will Broadridge provide to Prometheum?

Broadridge will provide back-office solutions including bookkeeping, trade capture, reconciliations, and regulatory reporting to enhance Prometheum's services.

Who is the CEO of Prometheum?

Benjamin Kaplan is the CEO of Prometheum.

What are the significant milestones for Prometheum in 2024?

The milestones for Prometheum in 2024 include the appointment of Albert P. Meo, CPA, as CFO and plans to offer ETH custodial services.