Prometheum Digital Asset Network Still Waiting on Reg A+ Qualification by SEC

Prometheum, a platform for creating and trading “cryptosecurities” is still waiting on the SEC to qualify its Reg A+ offering seeking up to $50 million. The company first filed their Form 1-A back in 2017 – claiming to be the first digital asset focused issuer to do so.

Founded in 2017 by a group of securities attorneys, Prometheum is a blockchain company engaged in building a compliant end-to-end ecosystem for digital securities. These securities will be created, traded, and processed on Prometheum’s blockchain network, that will use distributed ledger technology to streamline the traditional back-office processes of Wall Street.

In a recent note issued by Prometheum, the company emphasized that it has raised $14.5 million in funding and has formed partnerships with HashKey and Shanghai Wanxiang Blockchain to launch its platform.

Like many other aspiring digital asset platforms, Prometheum has filed to be approved as a Broker-Dealer and intends on pursuing an ATS license too.

Noting that most digital asset issuers utilize Reg D to issue securities, Prometheum states it aims to change that by “broadening the scope of who can compliantly purchase, sell, and trade cryptosecurities in the U.S. to include all investors.”

Prometheum reports that it has partnered with broker-dealer Manorhaven Capital LLC to pursue its goals.

“Cryptosecurities are currently a fringe asset class because participation is limited to wealthy individuals,” stated co-CEO Aaron Kaplan. “By allowing the general public to participate, cryptosecurities and digital assets will realize their place among other mainstream asset classes.”

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