Congratulations to @The_DTCC on the launch of the DTCC Tokenization Service, a major milestone for crypto assets and capital markets.
We’re proud that Prometheum Capital is participating in the launch of the DTCC Tokenization Service, and we thank the DTCC team for their leadership and industry collaboration.
We believe DTCC’s tokenization model matters for investors and markets for several reasons, including:
1. It preserves shareholder rights. DTC-tokenized securities are digital twins of securities held at the Depository Trust Company (DTC). They retain the ownership rights, investor protections and economic entitlements of their traditional counterparts.
2. It builds on trusted infrastructure. Extends DTC’s resiliency, governance and operational standards into digital markets providing a regulated, scalable path to adoption.
3. It keeps liquidity connected. Because tokenized and traditional forms are convertible, the model is designed to connect liquidity. That supports collateral mobility and capital efficiency between both traditional and digital markets.
We are excited to put this service into action. Through our collaboration with HashKey Digital Asset Group and Velocity Capital, we are working to extend tokenized U.S. equities to eligible investors in key international markets through HashKey’s licensed exchanges, with tokenized securities backed by assets held at DTC.
This provides a regulated foundation for financial services firms to engage with crypto assets in a meaningful way. We look forward to building on it with DTCC and our partners.
Read more here: https://t.co/Bkm2yzHoBa
#Tokenization #CryptoAssets #CapitalMarkets #DTCC #TokenizedSecurities
Prometheum Capital
SEC-registered broker-dealer that custodies and clears crypto for US brokerage accounts
2.8/ 5
Our score
Weak
Custody model
Qualified custodian
Regulated
Yes
What is Prometheum Capital?
Company and ownership
Prometheum Inc. was founded in 2017 by a group of Wall Street attorneys and is based at 29 Broadway in New York. Co-founders Aaron Kaplan and Benjamin Kaplan run it as co-CEOs, and Martin H. Kaplan is chairman. Benjamin Kaplan is also CEO of Prometheum Capital LLC, the custody subsidiary formerly named Prometheum Ember Capital, which FINRA BrokerCheck lists with Prometheum Inc. as sole member.
Each subsidiary covers one stage of a security's life. ProFinancial handles issuance and distribution, while Prometheum ATS runs secondary trading. Prometheum Capital takes the post-trade side, and Prometheum Coinery keeps shareholder records as a transfer agent. Company releases report more than $42 million raised by March 2022 and about $20 million during 2024. Another $23 million came in between January 2025 and January 2026 from high-net-worth investors and institutions.
Custody model and security
Prometheum Capital holds client assets in customer accounts as an SEC-registered broker-dealer. That registration underpins its claim to be a qualified custodian under SEC Rule 206(4)-2, and it places the firm under the Customer Protection Rule, Rule 15c3-3. Prometheum says client funds and securities are kept apart from those of the parent and its subsidiaries and are never commingled.
The firm describes Prometheum Capital as the first SEC qualified custodian and broker-dealer to hold on-chain securities. Its custody pages present the technology in general terms, as blockchain security measures for safekeeping, and list AML and KYC procedures as part of account setup.
Regulation and insurance
FINRA approved Prometheum Capital on May 17, 2023 to operate as a special purpose broker-dealer, a category set up under a 2020 SEC statement on custody of digital asset securities. A January 2024 approval added clearing and settlement, and a June 2025 authorization extended clearing to third-party broker-dealers. BrokerCheck shows CRD 312784, registrations in 53 jurisdictions and no disclosures.
Prometheum ATS, formerly Prometheum Ember ATS, has been a FINRA member since July 2021. ProFinancial, a broker-dealer formed in 1984, joined the group in 2025, the year Prometheum Coinery's transfer agent registration took effect. Releases from 2026 describe Prometheum Capital as a crypto asset custodian and clearing broker-dealer. The firm's disclosures state that assets are not SIPC or FDIC insured.
Products and integrations
Prometheum Capital launched its custody platform for financial institutions and corporates in September 2024, supporting ETH, UNI, ARB, OP and GRT. In May 2026 it launched Digital Brokerage Solutions, which lets introducing and clearing broker-dealers offer crypto in ordinary brokerage accounts, with trading routed through an integration with Talos. Its first ETH trade was cleared and settled directly in a US brokerage account. Arete Wealth Management was named as an inaugural correspondent client, with Network 1 Financial Securities awaiting FINRA approval. In July 2026 Velocity Capital became the first client of the omnibus clearing service.
Two newer deals focus on tokenized products. A binding MOU signed in September 2026 with HashKey Digital Asset Group and Velocity Capital covers international distribution of tokenized US equities, subject to definitive agreements and regulatory approval. In October 2026 Prometheum and Federated Hermes announced a partnership to issue tokenized securities funds. Prometheum Capital will hold and clear the products for its customers, with ProFinancial supporting distribution, and the first fund is expected in the first quarter of 2027.
Founders
Benjamin KaplanCEO
Aaron KaplanCo-founder and co-CEO, Prometheum Inc.
Martin H. KaplanChairman
Best for:US introducing broker-dealers adding crypto to client brokerage accountsSelf-clearing broker-dealers that want omnibus crypto custodyIssuers planning tokenized funds or equities in the US
Pros and cons
Pros
- Crypto custody inside an SEC-registered, FINRA member broker-dealer under Rule 15c3-3
- Correspondent clearing lets broker-dealers hold ETH in ordinary brokerage accounts
- Group includes an issuance broker-dealer, an ATS and an SEC-registered transfer agent
- No BrokerCheck disclosures for Prometheum Capital or Prometheum ATS
Cons
- Narrow crypto coverage, with ETH the only token named in 2026 releases
- Assets are not SIPC or FDIC insured, per company disclosures
- Custody technology is described only in general terms
- A 2023 congressional letter questioned past ties to Wanxiang and HashKey
Our review
2.8/5
Weak
Prometheum Capital brings crypto into the US broker-dealer custody regime and suits brokers that want ETH beside stocks in client accounts. Narrow token support and general security disclosures limit its appeal outside that niche.
Prometheum Capital's appeal is structural. Crypto held there sits in a broker-dealer account under the SEC's Customer Protection Rule, the regime that already governs stock holdings, so an introducing broker can offer ETH in client accounts through a clearing firm, the same way it handles equities. The group also owns an issuance broker-dealer, an ATS and a transfer agent, which lets an issuer of tokenized securities stay inside one regulated group from distribution to record keeping. Federated Hermes picked that route for its first tokenized funds.
Coverage is narrow. The custody platform started with five tokens in 2024, and 2026 releases name ETH alone while referring otherwise to select crypto tokens. Security documentation stays at the level of general statements. Distribution also depends on other broker-dealers signing on, and the May 2026 launch named two correspondents, one still awaiting FINRA approval.
The regulatory edge has narrowed. The 2020 SEC statement behind the special purpose broker-dealer category was limited to five years and has lapsed. A December 2025 SEC staff statement now explains when any broker-dealer can treat crypto asset securities as being in its physical possession, which opens the same custody model to competitors.
Political scrutiny is part of the record. In July 2023 six Republican lawmakers led by Senator Tommy Tuberville asked the Justice Department and the SEC to investigate Prometheum's past ties to Shanghai Wanxiang Blockchain and its subsidiary HashKey Digital Asset Group, and to examine co-CEO Aaron Kaplan's testimony to Congress. Kaplan called the allegations partisan and specious. HashKey Digital Asset Group is now a party to the September 2026 tokenized equities MOU. Prometheum ATS has a clean BrokerCheck record, while ProFinancial, acquired in 2025, carries one regulatory event disclosure.
Prometheum Capital fits US introducing and self-clearing broker-dealers whose high-net-worth and institutional clients want crypto and tokenized securities next to their stocks. Institutions that need broad token coverage will find the list short.
Sources (30)
- Prometheum homepage
- About page
- Custody page
- Institutions page
- Correspondent clearing page
- Company news index
- Insights
- Interest form
- FINRA BrokerCheck: Prometheum Capital
- FINRA BrokerCheck: Prometheum ATS
- FINRA BrokerCheck: ProFinancial
- SEC EDGAR: Prometheum Coinery
- SPBD approval release (2023)
- Clearing approval release (2024)
- ETH custody announcement (2024)
- Custody platform launch (2024)
- Transfer agent and ProFinancial release
- Correspondent clearing authorization (2025)
- $15M round (2021)
- $15M round (2022)
- $20M round (2024)
- $23M raise (2026)
- Digital Brokerage Solutions launch
- Velocity Capital clearing client
- HashKey and Velocity MOU
- Federated Hermes partnership
- The Block: lawmakers ask DOJ and SEC to investigate Prometheum
- Latham & Watkins on SEC crypto custody clarity (CLS Blue Sky Blog)
- Prometheum
- Prometheum | About The Company
Specs
| KYC required ⓘ | Yes · unverified |
|---|---|
| Custody model | Qualified custodian · unverified |
| Regulated | Yes · unverified |
| Licenses & charters | SEC/FINRA special purpose broker-dealer (US), SEC/FINRA broker-dealer operating an ATS (US), SEC/FINRA issuance broker-dealer (US), SEC transfer agent registration (US) · unverified |
| Qualified custodian | Yes · unverified |
Not disclosed by the provider: Clients, SOC 2 report, Insurance, Assets supported, Staking, API access, MPC, Cold storage.
Data from the provider's website and public sources, checked Oct 28, 2026. Fees and availability change; confirm on the official site before you sign up.
Key features
Broker-dealer custody
Client assets sit in customer accounts at an SEC-registered broker-dealer and are kept apart from the firm's own under Rule 15c3-3.
Correspondent clearing
Fully disclosed and omnibus clearing lets other broker-dealers offer crypto and tokenized securities to their clients.
Talos trading integration
Crypto orders from Digital Brokerage Solutions clients route through Prometheum Capital's integration with Talos.
Tokenized fund servicing
Prometheum Capital will hold and clear Federated Hermes' planned tokenized fund products for its customers, with the first expected in early 2027.
Digital transfer agent
Prometheum Coinery records on-chain and off-chain shareholder positions as an SEC-registered transfer agent.
Inside Prometheum Capital
Prometheum Capital custody
Qualified custody for crypto, tokenized and digitally native securities through an SEC-registered, FINRA member broker-dealer.
Digital Brokerage Solutions
Correspondent clearing and custody for introducing and clearing broker-dealers, with crypto trading through Talos.
Prometheum ATS
A FINRA member broker-dealer that runs an alternative trading system for blockchain securities.
ProFinancial
A broker-dealer acquired in 2025 that handles primary issuance and distribution, including tokenized products.
Prometheum Coinery
An SEC-registered transfer agent for on-chain and off-chain shareholder records.
Prometheum Capital screenshots
User reviews
No user reviews yet. Have you used Prometheum Capital? Share your experience below.
FAQ
Is Prometheum Capital a qualified custodian?
Prometheum says it is, because Prometheum Capital is an SEC-registered broker-dealer that holds client assets in customer accounts, which meets the definition in SEC Rule 206(4)-2. FINRA approved it in May 2023 to custody digital asset securities as a special purpose broker-dealer.
Is Prometheum regulated, and where?
Yes, in the United States. Prometheum Capital, Prometheum ATS and ProFinancial are SEC-registered broker-dealers and FINRA members, and Prometheum Coinery is registered with the SEC as a transfer agent.
Who owns Prometheum Capital?
FINRA BrokerCheck lists Prometheum Inc. as its parent and sole member. Prometheum Inc. was founded in 2017 and is led by co-CEOs Aaron Kaplan and Benjamin Kaplan, with Martin H. Kaplan as chairman.
What insurance covers assets at Prometheum?
Prometheum's disclosures state that assets held with it are not SIPC or FDIC insured. Client assets are kept separate from the firm's own under SEC Rule 15c3-3.
Which crypto assets does Prometheum Capital support?
The custody platform launched in September 2024 with ETH, UNI, ARB, OP and GRT. In 2026 Prometheum Capital cleared and settled ETH directly in US brokerage accounts, and its releases refer to select crypto tokens alongside tokenized securities.
Has Prometheum faced regulatory scrutiny?
In July 2023 six Republican lawmakers asked the Justice Department and the SEC to investigate Prometheum's past ties to Shanghai Wanxiang Blockchain and HashKey, and co-CEO Aaron Kaplan called the allegations partisan and specious. FINRA BrokerCheck lists no disclosures for Prometheum Capital or Prometheum ATS.
Latest from Prometheum Capital on X
Today we announced a strategic partnership with Federated Hermes, Inc. to distribute tokenized securities through traditional broker-dealer channels.
We believe this will provide product issuers the blueprint for how tokenized funds will reach mainstream investors through the regulated intermediaries they already rely on.
Over $14B in tokenized U.S. Treasury and money market funds alone are on-chain, per https://t.co/9jzdtWoVDT — but almost none of it is accessible through traditional brokerage accounts. ProFinancial will support the distribution of the tokenized products, and Prometheum Capital will custody, clear, and settle these products. Any authorized broker-dealer that clears through us can begin to offer tokenized products to clients without building its own crypto asset infrastructure.
Read the full announcement here: https://t.co/SAHHIVEjQO
#Tokenization #cryptoassets #BrokerDealers
We believe this will provide product issuers the blueprint for how tokenized funds will reach mainstream investors through the regulated intermediaries they already rely on.
Over $14B in tokenized U.S. Treasury and money market funds alone are on-chain, per https://t.co/9jzdtWoVDT — but almost none of it is accessible through traditional brokerage accounts. ProFinancial will support the distribution of the tokenized products, and Prometheum Capital will custody, clear, and settle these products. Any authorized broker-dealer that clears through us can begin to offer tokenized products to clients without building its own crypto asset infrastructure.
Read the full announcement here: https://t.co/SAHHIVEjQO
#Tokenization #cryptoassets #BrokerDealers
Tokenized stocks should come with ownership.
In @CoinDesk today, our founder Aaron Kaplan argues that "wrapped" tokens, which track a stock's price without conveying ownership, shortchange both U.S. investors and U.S. companies. The better model is ownership-backed: the token and the share held at DTC are one asset in two forms, and every order deepens the market Americans trade in.
That's the model behind our binding MOU with HashKey Digital Asset Group and Velocity Capital to bring tokenized U.S. securities to eligible international investors through HashKey's eligible licensed exchanges in multiple jurisdictions.
Real shares. Real rights. Real markets.
📖 Op-ed: https://t.co/5U3EkQEzB5
📰 Announcement: https://t.co/Wnp8rOKzQ1
#Tokenization #CapitalMarkets #DTCC #DigitalAssets #CryptoAssets
In @CoinDesk today, our founder Aaron Kaplan argues that "wrapped" tokens, which track a stock's price without conveying ownership, shortchange both U.S. investors and U.S. companies. The better model is ownership-backed: the token and the share held at DTC are one asset in two forms, and every order deepens the market Americans trade in.
That's the model behind our binding MOU with HashKey Digital Asset Group and Velocity Capital to bring tokenized U.S. securities to eligible international investors through HashKey's eligible licensed exchanges in multiple jurisdictions.
Real shares. Real rights. Real markets.
📖 Op-ed: https://t.co/5U3EkQEzB5
📰 Announcement: https://t.co/Wnp8rOKzQ1
#Tokenization #CapitalMarkets #DTCC #DigitalAssets #CryptoAssets
Thank you @wealth_mgmt for highlighting our work supporting the broker-dealer industry as they consider crypto asset strategies.
U.S. capital markets are in the early stages of a generational shift, moving from electronic to digital infrastructure.
The broker-dealers integrating crypto asset infrastructure today will be the ones leading client relationships tomorrow.
Proud to welcome Prometheum Capital's inaugural correspondent clearing clients: @arete_wealth and Network 1 Financial Services, Inc.
Learn more about how your firm can build a digital markets business: https://t.co/WhqYBN9Npg
#digitalassets #cryptoassets #brokerdealers
The broker-dealers integrating crypto asset infrastructure today will be the ones leading client relationships tomorrow.
Proud to welcome Prometheum Capital's inaugural correspondent clearing clients: @arete_wealth and Network 1 Financial Services, Inc.
Learn more about how your firm can build a digital markets business: https://t.co/WhqYBN9Npg
#digitalassets #cryptoassets #brokerdealers
Recent public posts from @PrometheumInc, shown as published. Not reviewed or endorsed by CryptoReview.
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