CandleFocus Doors Open at Prometheum as Much-Disputed Firm Tests Crypto Tokens as Securities
2024-09-11
Author: Content Editor
Cryptocurrency platform Prometheum Inc. has opened its custody function to institutional clients. The company, which aims to become the "PayPal of crypto," soft-launched with support for Ethereum (ETH), Uniswap (UNI), and Arbitrum (ARB), and has now added support for Optimism (OP) and The Graph (GRT). Prometheum, which is fully registered as a crypto special-purpose broker-dealer under the SEC's rules, plans to launch a trading operation in the near future. However, it faces opposition from critics and industry players who argue that running a crypto business under existing securities laws is impossible. The company has not yet disclosed any customers or revenue.
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