Prometheum Taps Broadridge to Enhance Post-Trade Lifecycle and Back-Office Operations

Prometheum Capital LLC (Prometheum), a provider of digital asset securities trading services, announced its strategic partnership with Broadridge Financial Solutions, Inc. (Broadridge) to optimize its back-office operations. This collaboration will enable Prometheum to introduce its comprehensive suite of custody, clearing, and settlement services for digital asset securities.

Prometheum is a subsidiary of Prometheum Inc. and a member of the Securities Investor Protection Corporation (SIPC). 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.

Under this new partnership, Prometheum will utilize Broadridge's advanced Shadow Post Trade Processing Solution and Business Process Outsourcing (BPO) services. By leveraging Broadridge's expertise in areas such as bookkeeping, trade capture, reconciliations, and regulatory reporting, Prometheum will enhance its digital asset services portfolio and improve operational efficiency.

Prometheum expects to launch its custodial service this quarter.

Benjamin Kaplan, CEO of Prometheum, said: "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. This strategic partnership marks an important milestone for Prometheum."

Zachary Dea, Director, Head of Product for the Shadow Post Trade Processing Solution at Broadridge, added: "We are excited to collaborate with Prometheum to support the evolution of financial market structure and facilitate the ongoing expansion of digital asset securities. 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."

It's worth mentioning that Broadridge recently established a similar collaboration with Japan's SBI Securities​. This partnership enables SBI Securities to provide equities broking services to its UK clients, utilizing post-trade solutions provided by Broadridge.