As a seasoned crypto investor with over a decade of experience navigating the volatile and rapidly evolving digital asset landscape, I find Prometheum’s expansion of its custody service to include Uniswap (UNI) and Arbitrum (ARB) a strategic move that underscores their commitment to serving institutional clients.
Digital asset management company Prometheum has unveiled its strategy to provide safekeeping services for Uniswap (UNI) and Arbitrum (ARB), in addition to Ethereum, for American clients. It’s worth mentioning that this firm had already introduced Ether custody as a security offering earlier in the year. Interestingly, the value of UNI increased approximately 4% after this announcement, while ARB trading remained relatively stable today.
Prometheum Expands Custody Service With UNI & ARB
Prometheum Inc.’s subsidiary has disclosed the incorporation of Uniswap and Arbitrum onto their custody platform. This move signifies a substantial advancement for the company as they broaden their digital asset security services. Importantly, this new feature will enable institutional and corporate US clients to safely store these assets alongside ETH.
As an analyst, I’m highlighting the impressive collective market capitalization of these three cryptocurrencies, which stands at approximately $320 billion. This underscores their undeniable influence and importance within the digital asset sphere.
Simultaneously, the company is adopting blockchain technology for ownership recording in a digital, on-chain manner, thereby eliminating traditional intermediaries like transfer agents. This innovative approach, as stated in the announcement, aims to boost transparency and lower costs for users, making it more appealing to institutional investors by offering additional attractive features.
Ben Kaplan, CEO of Prometheum, emphasized their commitment to abiding by federal securities regulations. In simpler terms, he stated that their primary goal is to establish a secure and lawful platform for traders to engage actively in the digital asset trading sector.
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2024-08-21 18:15