Prometheum
Capital has announced a strategic partnership with Broadridge Financial
Solutions (NYSE: BR) to bolster its post-trade lifecycle and back-office
operations. The firm gears up to introduce a custody, clearing, and settlement services suite for digital asset securities.
Prometheum Partners with
Broadridge to Enhance Post-Trade Operations
Prometheum will
leverage Broadridge’s Shadow Post Trade Processing Solution and Business
Process Outsourcing (BPO) tools. These solutions encompass a wide range of
capabilities, including bookkeeping, trade capture, reconciliations, and
regulatory reporting.
“Collaborating
with Broadridge is a pivotal step in our business strategy,” Benjamin Kaplan, the
CEO of Prometheum, stated. “Their support is instrumental in advancing our
mission of creating a well-regulated and efficient ecosystem for digital asset
securities.”
This
partnership follows several significant achievements for Prometheum in 2024,
such as the appointment of Albert P. Meo as CFO and the company’s declaration
of its intent to offer ETH custodial services. Prometheum plans to initiate its
custodial services within this quarter.
“By
combining our expertise with Prometheum’s vision, we are empowering investors
and businesses while shaping the future of the financial industry,” added Zachary
Dea, the Director and Head of Product for the Shadow Post Trade Processing
Solution at Broadridge.
Since its
inception in 2017, Prometheum has been actively engaged in the cryptocurrency
arena. Within the first twelve months of its operations, the company launched
the first SEC-compliant ICO trading platform.
Broadridge and the Digital
Assets Market
Broadridge
has also made significant inroads into the cryptocurrency, digital assets, and
blockchain technology sectors. Notably, in 2022, the company forged a strategic
partnership with Coinbase. This collaboration aimed to enhance interoperability
between Coinbase Prime and Broadridge’s Trading and Connectivity Solutions’
NYFIX order-routing network. The partnership was designed to bolster the crypto
market by improving liquidity and expanding access to crypto trading
opportunities.
Furthermore,
in 2021, Broadridge unveiled the latest iteration of its Private Market Hub
platform. This platform is underpinned by the Amazon Managed Blockchain from
Amazon Web Services (AWS), underscoring the pivotal role of blockchain in the
evolution of financial technologies.
This article was written by Damian Chmiel at…
