Prometheum Inc., a market infrastructure provider for blockchain-based securities, announced its subsidiary Prometheum Capital, a FINRA member firm and SEC-registered special purpose broker-dealer (“SPBD”), is now authorized to provide correspondent clearing services to third-party broker-dealers. Prometheum’s FINRA member and SEC-registered broker-dealer network will support introducing broker-dealers seeking to transact in on-chain securities under federal securities laws.

Correspondent clearing allows Prometheum Capital to provide clearing, custody, execution, and recordkeeping services on behalf of other broker-dealers, enabling their clients to access and transact in on-chain securities.

Product issuers are increasingly distributing securities on-chain, with more than $24 billion of securities products already issued on blockchain networks, according to RWA.xyz. Correspondent clearing is a critical gateway for broader market participation with these assets, supporting the modernization of U.S. capital markets and accelerating institutional and retail access to on-chain securities.

“Financial markets are evolving from electronic to digital, blockchain-enabled infrastructure, facilitating the migration of the $130 trillion securities industry on-chain,” said Aaron Kaplan, founder and co-CEO of Prometheum. “Broker-dealers require a turnkey solution to access these products and offer on-chain securities alongside traditional securities products. Prometheum Capital is excited to support the broker-dealer community’s growth by offering a pathway into digital markets.”

This development expands Prometheum’s role as a leading on-chain securities infrastructure provider, allowing broker-dealers—who currently cannot custody or directly transact in on-chain securities—to access these products and expand their offerings into digital assets.

Source: Prometheum