Broadridge to Bolster Prometheum's Digital Asset Securities Infrastructure

PrometheumCapital has announced a strategic partnership with Broadridge FinancialSolutions (NYSE: BR) to bolster its post-trade lifecycle and back-officeoperations. The firm gears up to introduce a custody, clearing, and settlement services suite for digital asset securities.

Prometheum Partners withBroadridge to Enhance Post-Trade Operations

Prometheum willleverage Broadridge's Shadow Post Trade Processing Solution and BusinessProcess Outsourcing (BPO) tools. These solutions encompass a wide range ofcapabilities, including bookkeeping, trade capture, reconciliations, andregulatory reporting.

"Collaboratingwith Broadridge is a pivotal step in our business strategy, Benjamin Kaplan, theCEO of Prometheum, stated. Their support is instrumental in advancing ourmission of creating a well-regulated and efficient ecosystem for digital assetsecurities."

Thispartnership follows several significant achievements for Prometheum in 2024,such as the appointment of Albert P. Meo as CFO and the company's declarationof its intent to offer ETH custodial services. Prometheum plans to initiate itscustodial services within this quarter.

Bycombining our expertise with Prometheum's vision, we are empowering investorsand businesses while shaping the future of the financial industry, added ZacharyDea, the Director and Head of Product for the Shadow Post Trade ProcessingSolution at Broadridge.

Since itsinception in 2017, Prometheum has been actively engaged in the cryptocurrencyarena. Within the first twelve months of its operations, the company launchedthe first SEC-compliant ICO trading platform.

Broadridge and the DigitalAssets Market

Broadridgehas also made significant inroads into the cryptocurrency, digital assets, andblockchain technology sectors. Notably, in 2022, the company forged a strategicpartnership with Coinbase. This collaboration aimed to enhance interoperabilitybetween Coinbase Prime and Broadridge's Trading and Connectivity Solutions'NYFIX order-routing network. The partnership was designed to bolster the cryptomarket by improving liquidity and expanding access to crypto tradingopportunities.

Furthermore,in 2021, Broadridge unveiled the latest iteration of its Private Market Hubplatform. This platform is underpinned by the Amazon Managed Blockchain fromAmazon Web Services (AWS), underscoring the pivotal role of blockchain in theevolution of financial technologies.

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The Fall of Medici Bank: Lessons on Fractional Reserve Banking From 15th Century Italy

Amid the banking chaos of the 21st century, some are looking back more than 600 years ago, to the Medici Bank — one of the most powerful banks of its time. It established its business and became one of the most respected banks in Europe during its prime, and the prominent Italian family of bankers [...]

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