Digital asset securities platform, Prometheum, recently announced it has teamed up with custodian and infrastructure provider, Anchorage Digital Bank, to create the first public Alternative Trading System (ATS) for digital assets. Prometheum reported that the ATS, headed by Prometheum’s wholly-owned subsidiary, Prometheum Ember ATS (PEATS), will be a FINRA and SEC-regulated trading system that allows investors to trade digital assets securities.
“PEATS brings ATS-technology, commonly found in traditional finance to digital assets pursuant to recent guidance from the SEC, known as theSEC 3 Step Process. The PEATS ATS will be open to trading pending regulatory final approval and, once launched, Anchorage Digital Bank will custody digital assets transacted through PEATS.”
Aaron Kaplan, Founder and Co-CEO of Prometheum, spoke about the partnership by stating:
“A public ATS for digital assets will allow more efficient order matching and better price discovery, bringing smaller price spreads and simplified participation for all investors. With Anchorage’s digital asset banking approval, we are even more encouraged about the regulatory environment going forward and are confident we have chosen the right partner.”
Prometheum further revealed when its ATS goes live, it will be a full-service SEC and FINRA registered electronic market integrating both traditional and blockchain technology for the trading of digital asset securities, with on-chain custody and settlement provided by Anchorage Digital Bank.
Founded in 2017, Prometheum describes itself as an innovative blockchain-focused company engaged in building the first compliant (regulated) end-to-end ecosystem for digital asset securities. Digital asset securities will live on Prometheum’s network, where the Prometheum blockchain will track transactions for securities clearing and settlement.