Arbitrum

Uniswap

Bitcoin

when

Digital asset trading and custody firm Prometheum has announced that it will add Uniswap and Arbitrum to its custodial platform, where they will join Ether. Prometheum describes the tokens as “digital asset securities.” Custodial services should be available in the third quarter of the year.
The classification of Uniswap (<a href="https://cointelegraph.com/uniswap-price-index">UNI</a>) and Arbitrum (<a href="https://cointelegraph.com/arbitrum-price-index">ARB</a>) as securities may be controversial in some quarters, although Prometheum has made the same claim about Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>). 
<h2 id="prometheum-has-big-plans">Prometheum has big plans</h2>
Prometheum will offer ETH, ARB and UNI custody to corporate and institutional through its Prometheum Capital subsidy. Prometheum Capital is a special purpose broker-dealer (SPBD) registered with the United States Securities and Exchange Commission (SEC) and a member of the self-regulatory Financial Industry Regulatory Authority (FINRA). 
Prometheum Capital <a href="https://www.businesswire.com/news/home/20240110419249/en/Prometheum-Receives-First-of-Its-Kind-Approval-From-FINRA-to-Clear-and-Settle-Digital-Asset-Securities" target="_blank" rel="noopener nofollow">claims</a> to be “the only SEC-qualified custodian and special purpose broker-dealer for digital asset securities.” It originally planned to launch its custody services in the first quarter of 2024. Its plans do not stop at that, the company <a href="https://www.businesswire.com/news/home/20240821785704/en/Prometheum-Capital-Adds-Two-New-Digital-Asset-Securities-to-Custodial-Platform" target="_blank" rel="noopener nofollow">said</a> in a statement on Aug. 21:
<blockquote data-ct-non-breakable="true">
 “Prometheum Capital will continue to expand its digital asset offerings for custody, and in the future trading, to support digital assets including debt, equities, ETFs, mutual funds, options, money market funds, and other investment contract products that are issued and transferred on a blockchain.”
</blockquote>
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-08/ccc2ff7b-6f08-429f-84f6-a5025a9a0788.png" alt="Prometheum labels UNI, ARB securities in custody expansion" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/PrometheumInc/status/1826270820286538082" target="_blank" rel="noopener nofollow">Prometheum</a>
 </figcaption>
</figure>
<h3 id="prometheum-s-unique-approach-to-digital-assets">Prometheum’s unique approach to digital assets</h3>
Many crypto firms have voiced their discontent with the difficulty of registering with the SEC. Prometheum’s registration as an SPBD <a href="https://cointelegraph.com/news/us-lawmakers-press-sec-finra-prometheum-broker-dealer-approval">aroused suspicions</a> of favoritism among legislators and <a href="https://cointelegraph.com/news/who-is-prometheum-what-testify-congress-about-crypto-sec">the crypto community</a> when it <a href="https://cointelegraph.com/news/prometheum-subsidiary-receives-finra-approval-for-digital-asset-qualified-custody">received the designation</a> in May 2023.
Related: <a href="https://cointelegraph.com/news/sec-low-odds-winning-against-uniswap">SEC has 'very low' odds of winning against Uniswap: Crypto lawyer</a>
Uniswap is a <a href="https://cointelegraph.com/learn/what-are-decentralized-exchanges-and-how-do-dexs-work">decentralized cryptocurrency exchange</a>. It <a href="https://blog.uniswap.org/fighting-for-defi" target="_blank" rel="noopener nofollow">claimed</a> that UNI is not a security and is as decentralized as Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) and ETH in <a href="https://cointelegraph.com/explained/what-is-a-wells-notice-explained">response to a Well’s notice</a> it <a href="https://cointelegraph.com/news/uniswap-token-drops-team-to-fight-sec-wells-notice">received from the SEC</a> in April. 
Arbitrum is a decentralized autonomous organization (DAO). Holders of its native ARB <a href="https://cointelegraph.com/news/arbitrum-dao-arb-token-staking-governance-upgrade">voted to enable ARB</a>&nbsp;staking on Aug. 15.
Magazine: <a href="https://cointelegraph.com/magazine/11-critical-moments-ethereum-history-that-made-eth-no2-blockchain/">11 critical moments in Ethereum’s history that made it the No.2 blockchain</a>

Prometheum labels UNI, ARB securities in custody expansion

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