Velocity Capital LLC Named as Prometheum Capital’s First Self-Clearing Broker-Dealer Client for Crypto Asset Custody, Clearing, and Settlement

Velocity Capital joins Prometheum Capital’s Digital Brokerage Solutions platform on an omnibus correspondent clearing basis

NEW YORK--(BUSINESS WIRE)--Prometheum Inc. ("Prometheum") today announced that Velocity Capital LLC ("Velocity Capital") is the first client of the omnibus correspondent clearing service offered by its subsidiary, Prometheum Capital, a FINRA member and SEC-registered crypto asset clearing broker-dealer. That service is part of Prometheum Capital’s Digital Brokerage Solutions, a suite of correspondent clearing, custody, and trading services that enable broker-dealers to offer clients access to crypto assets — including digitally-native securities, tokenized securities, and select crypto tokens — through traditional brokerage accounts.

Under the introducing arrangement, Velocity Capital is able to access crypto asset execution, custody, clearing, and settlement without needing to obtain the technology or custodial infrastructure otherwise required to access and offer crypto assets and tokenized securities products to clients.

"Working with Prometheum Capital gives us a straightforward, compliant way to access crypto asset custody without building or operating that infrastructure ourselves, and their support will make it possible for us to participate in the opportunities in tokenized securities as those assets grow," said Joseph D’Alessio, Digital Asset Business Development, Velocity Capital.

"Velocity Capital’s work with Prometheum Capital’s correspondent clearing platform shows how broker-dealers can participate in tokenized assets through their familiar workflows," said Aaron Kaplan, founder and co-CEO of Prometheum. "Broker-dealers are the critical link that will distribute tokenized securities to the millions of investors they serve, but only if they have SEC-registered custodial infrastructure built to support crypto assets. This kind of correspondent clearing relationship is a pathway for other broker-dealers seeking to access crypto or tokenized assets, offer new products, and build new revenue streams as digital markets emerge."

As tokenization moves from pilot programs into production across the securities industry, broker-dealers need crypto asset custodial infrastructure held to the same operational and regulatory rigor as the rest of their business. Learn more about Prometheum Capital’s Digital Brokerage Solutions.

About Prometheum Inc.
Prometheum Inc. supports crypto assets, including select crypto tokens, tokenized securities, and digitally-native securities through its broker-dealer network and market infrastructure for the issuance, distribution, trading, and custody of crypto assets. Its broker-dealer network includes Prometheum Capital (custody, clearing, and settlement), ProFinancial (issuance and distribution), Prometheum ATS (secondary market trading), and an SEC-registered digital transfer agent, Prometheum Coinery. For more information, please visit https://www.prometheum.com.