Prometheum, a platform for creating and trading cryptosecurities, recently announced it has acquired a version of InteliClear’s post-trade solution technology. Prometheum reported that the InteliClear technology serves as a “major leap forward” for its mission to become the first compliant end-to-end cryptosecurities trading platform.
“InteliClear’s system is currently used by traditional U.S. clearing firms and has been examined on multiple occasions by the SEC and FINRA. By integrating InteliClear’s system with Prometheum’s blockchain technology, Prometheum clearing will be the compliant clearing solution for cryptosecurities.”
While sharing more details about the acquisition, Co-CEO of Prometheum, Aaron Kaplan, stated:
“This acquisition marks a major milestone in Prometheum’s progress toward building the first compliant digital asset clearing firm. We are thrilled to add InteliClear’s post trade solution technology to our portfolio. It truly propels us forward in our quest to become a full end-to-end cryptosecurities trading platform for both sophisticated investors and novices alike.”
John Paul DeVito, Managing Director of InteliClear, also commented:
“The Prometheum ATS team realizes that digital compliance is critical for distributed ledger technologies facing the global financial services community. We are honored to be part of the solution in Prometheum’s ecosystem.”
Prometheum further explained it has updated its Regulation A+ offering to reflect its recent advances in technology, including the Intelliclear acquisition, as well as key hires, and related business processes as it nears SEC qualification. Kaplan added:
“This refiling reflects the massive progress we have made as a company to achieve our crypto security ecosystem for all investors.”