Prometheum Ember ATS announced the launch of its Alternative Trading System (ATS) on October 26. The new ATS is registered by the United States Securities Market Commission (SEC) and is a member of the Financial Industry Regulatory Authority.
Prometheum Ember ATS will offer digital asset securities trading, clearing, settlement and custody. The new ATS has partnered with Anchorage Digital Bank to help deliver its service, which aims to “seamlessly integrate with legacy securities trading systems.”
The ATS promised that it “allows institutions to trade digital asset securities under federal securities laws.” It will initially support Flow, Filecoin, The Graph, Compound, and Celo digital assets. Prometheum founder and CEO Aaron Kaplan said in a statement:
“Prometheum distinguishes itself by maintaining the ability to sustainably comply with current securities laws, while ensuring the multi-layered protections and regulations required on Wall Street.”
Prometheum Ember ATS said in its statement that it will make the full functionality of the system available to all users. “regardless of trading activity, volume, experience, or account size.”
It has been a long road to SEC approval for Prometheum Ember ATS, which announced its intention to receive registration in March 2021. New York-based Prometheum, founded in 2017, was already operating as a cryptocurrency exchange then.
Prometheum Ember ATS is one of several partnerships Anchorage Digital Bank has established to advance its business. In June, Anchorage Digital announced that it was working with Binance.US, CoinList, Blockchain.com, Strix Leviathan, and Wintermute to segregate institutional client funds from exchanges into regulated asset vaults. Anchorage Digital CEO Diogo Monica recently shared with Cointelegraph that the bank is preparing to enter the Asian market. Monica has also called for greater regulatory clarity in the United States.
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