{"id":305795,"date":"2024-05-20T20:55:33","date_gmt":"2024-05-20T15:25:33","guid":{"rendered":"https:\/\/dripp.zone\/news\/prometheum-launches-ethereum-custody-as-security-offering-crypto-news\/"},"modified":"2024-05-20T21:00:39","modified_gmt":"2024-05-20T15:30:39","slug":"prometheum-launches-ethereum-custody-as-security-offering-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/prometheum-launches-ethereum-custody-as-security-offering-crypto-news\/","title":{"rendered":"Prometheum Launches Ethereum Custody As Security Offering – Crypto News"},"content":{"rendered":"

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Digital assets platform Prometheum has soft launched Ethereum custody service as it looks to fully launch crypto services later this quarter. Fortune first reported<\/a> the launch of the product, the first of its kind in the digital currency ecosystem.<\/p>\n

Prometheum Stance on Ethereum<\/strong><\/h2>\n

Prometheum made its emergence into the digital currency ecosystem based on its controversial stance regarding the security status of many assets including Ethereum. The Ethereum custody service soft launch from Prometheum considers Ethereum a security that is registered under current Federal laws.<\/p>\n

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While many have argued that it is generally impossible to classify assets like Ethereum as security, Prometheum did. Many industry leaders also posited that it is somewhat impossible to register with the United States Securities and Exchange Commission (SEC), Prometheum managed to secure the approval.<\/p>\n

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Prometheum first selected Ethereum as the first asset to feature in its custodial service<\/a> in February. The platform\u2019s co-founder Aaron Kaplan is considered by many as a major proponent or supporter of the US SEC.<\/p>\n

\u201cIt eliminates a lot of the arguments that things can\u2019t be done under existing laws,\u201d Kaplan said in an interview with Fortune. \u201cIt marks the first time that\u2026an investment contract digital asset security is being custodied and treated under the securities laws.\u201d<\/p>\n

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The Prometheum Ethereum custody service is targeted at asset managers, crypto-focused hedge funds and banks amongst others. With highly controversial backing<\/a> from both the Financial Industry Regulatory Authority (FINRA) and the SEC, Prometheum is ready to tap into the growing Ethereum ecosystem.<\/p>\n

This is a breaking news, please check back for updates<\/strong><\/em><\/p>\n

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n

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