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Anchorage and Prometheum partner to create SEC-regulated public digital asset ATS

By Pavithra R

April 01, 2021

  • America
  • Anchorage

Anchorage and Prometheum partner to create SEC-regulated public digital asset ATSAnchorage, a cryptocurrency custody company for institutional investors, has announced partnering with Prometheum, creating an SEC-registered and regulated market for digital asset securities, to create the first public Alternative Trading System (ATS) for digital assets.

The ATS, headed by Prometheum Ember ATS (PEATS), Prometheum’s wholly-owned subsidiary,  will be a FINRA and SEC-regulated trading system that allows investors to trade digital asset securities.

“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,” said Aaron Kaplan, Founder and Co-CEO of Prometheum.

PEATS brings ATS-technology, commonly found in traditional finance to digital assets pursuant to recent guidance from the SEC. 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.

The approval by the Office of the Comptroller of the Currency (OCC) making Anchorage Digital Bank National Association the first federally chartered digital asset bank, along with Prometheum’s pending ATS application, is expected to create a strong regulatory foundation for supporting the first public market for digital asset securities.

“Regulatory clarity is the building block to enabling broad participation in digital assets. At Anchorage, it’s by operating in existing regulatory frameworks so we can bring innovations to market with capable builders like Prometheum,” said President and CEO of Anchorage Digital Bank, Nathan McCauley.

Founded in 2017, by seasoned Wall Street securities attorneys, Prometheum strives to make emerging technologies accessible to the public. When its ATS goes live, Prometheum 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.

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