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Prometheum Announces Initiative to Create Initial Coin Offering Ecosystem Designed for US Regulatory Compliance – Business Wire (press release)

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NEW YORK–()–Prometheum, Inc. announced today an initiative to create the Prometheum Network, an Initial Coin Offering blockchain securities infrastructure for the issuance, trading, settling and clearance of tokenized securities (ICO Tokens), planned from the ground up to be Federal Securities Law compliant. The Prometheum initiative is designed to incorporate the benefits of existing, proven blockchain technologies into the securities landscape while bringing the benefits of regulatory compliance to the ICO universe.

“Our goal is to address the legal and regulatory issues associated with the current ICO landscape and compliantly service the future market for tokenized securities offerings,” said Martin H. Kaplan, CEO of Prometheum, Inc. “As the securities industry currently lacks the infrastructure to handle the issuance, transaction and settlement of ICO Token securities, the Prometheum platform is designed to provide the regulatory compliant environment to address the safety and viability concerns of mainstream investors.” Mr. Kaplan, Managing Member of Gusrae Kaplan Nusbaum, a firm he co-founded in 1975, is recognized as one of the premier securities and regulatory attorneys in the United States.

No SEC filing for registration of ICOs has ever been done. Regulation A+ affords Prometheum the ability to be the first to distribute its ICO securities to all investors in compliance with the Federal Securities Laws.

Prometheum’s plans for development of the platform will allow for all aspects of the creation, distribution, trading and processing of ICO tokens as securities, compliantly under the Federal Securities Laws. It will include the creation of an Alternative Trading System (ATS) for primary issuance and secondary trading, settling and clearing mechanisms for ICO tokens, and systems for all other securities related processes in a securities compliant manner, while adding significant liquidity, value, and differentiation.

The Securities and Exchange Commission recently released its DAO report which is generally understood to advise the public that Initial Coin Offerings, offered with the expectation of profits from the efforts of others, are securities, and the offer and sale of such ICO tokens without compliance with the Federal Securities Laws is illegal.

“The ICO’s to date have been extra-judicial and are traded in an unregulated exchange environment. A decentralized smart contract network for tokenized securities would allow for a reliable and regulated initial coin offering universe,” said Aaron Kaplan, COO of Prometheum. Aaron has served as Managing Member of EquityArcade Services, LLC a technology provider focused on online capital formation solutions, and is a securities attorney experienced in crowdfunding and blockchain technologies.

The Prometheum Network will be self-sustained by sales of Ember Token securities, which would fund initial development of the network. Ember Tokens will be the fuel for the entire ecosystem and are the token on which other ICOs will be issued.

Prometheum, Inc. will issue a security in the form of a warrant to purchase an Ember Token when and if issued in the Genesis block issuance. Ember Warrants sold through the Reg A+ offering will be in the form of certificated warrant. The Ember Warrant may trade in conventional markets as a security until exchanged or redeemed.

Mark Malek, Chief Crypto-Economic Officer at Prometheum said, “We anticipate significant future price support for Prometheum’s Ember token, given the rapidly growing addressable market for tokenized securities, mainstream interest in crypto markets and Prometheum’s Federal Securities Law compliant groundwork that combines operational and compliance infrastructures with next generation distributed ledger technologies.” Mark has more than 25 years of experience in quantitative finance, modeling, algorithm design and analysis, mergers and acquisitions and other financial matters.

Upon launch of the Prometheum Network, the Prometheum Foundation will be formed as an independent foundation with responsibility for the oversight and day-to-day management of the ecosystem. The Foundation will be responsible for the ongoing development of a software client that will allow qualified third-party Broker/Dealers to have access to the tokenized securities marketplace, under the auspices of an ATS, so they can offer their clients access to token securities investments. All traditional brokerage processes are open to anyone who wants to engage in the Ember token ecosystem.

Payment for services in the ecosystem would occur with Ember Tokens, and blockchain processing through validating/mining will be incentivized with both token rewards and transaction fees. Service providers and decentralized applications can use Ember Tokens to develop additional securities services that operate off of Prometheum’s blockchain network. A part of the transaction fees for all activity on the underlying blockchain will go to fund the ongoing operations of the Foundation.

If and assuming the Company is successful in implementing its business plans, the company and its ecosystem, under the control of the Prometheum Foundation, will be overseer of the marketplace for securitized tokens. For more information, please visit: prometheum.info

About Prometheum, Inc.

Prometheum, Inc. was formed in 2017 to incorporate the benefits of existing, proven blockchain technologies into the securities landscape while bringing the benefits of regulatory compliance to the ICO universe. Prometheum is the first to complete a SEC filing for registration of ICOs under Regulation A+. Upon regulatory approval, Prometheum will have the ability to be the first to distribute its ICO securities to all investors in compliance with Federal Securities Laws. Its intended that the Prometheum Network will be run by the Prometheum Foundation, an independent foundation, which will be responsible for the oversight and day-to-day management of the ecosystem, including its Ember tokens. The Foundation will own Broker/Dealer and Alternative Trading System licenses, and will be responsible for the ongoing development of a software client that will allow qualified third-party Broker/Dealers to have access to the tokenized securities marketplace. The Prometheum ecosystem will allow for compliant issuance, trading and processing of tokenized securities on its decentralized securities smart contract network.

Prometheum, Inc. Disclaimer

No money or consideration is being solicited by the information in this press release or any other communication and, if sent, money will not be accepted and will be promptly returned. No offer by a potential investor to buy our securities can be accepted and, if made, any such offer can be withdrawn before qualification of this offering by the SEC. A potential investor’s indication of interest does not create a commitment to purchase the securities we are offering. Any such indication of interest may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance is given and all other requirements to accept an investment from a potential investor are met after the offering qualification date.

The offering, after qualification by the SEC, will be made only by means of the Offering Circular. Any information in this press release or any other communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification for sale as provided in Regulation A+ in any such state or jurisdiction.

You may obtain a copy of the Preliminary Offering Circular and the offering statement in which such Preliminary Offering Circular was filed with the SEC by clicking: https://www.sec.gov/cgi-bin/browse-edgar?company=Prometheum&owner=exclude&action=getcompany

PROMETHEUM, INC.
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