Prometheum, a registered securities firm, is set to custody Uniswap (UNI) and Arbitrum (ARB) tokens as securities, alongside Ethereum's ether (ETH).

Having received a special-purpose broker-dealer license in May 2023, Prometheum is the first firm authorized to custody digital assets, allowing it to handle crypto securities.

Prometheum stands out as the first special-purpose broker-dealer for crypto assets, registered to custody, clear, and settle digital asset trades.

Co-CEO Aaron Kaplan defended Prometheum's SPBD license, highlighting that many non-registered crypto firms are reluctant to comply with SEC and FINRA regulations.

Prometheum's SEC registration has sparked suspicions of favoritism within the crypto community and among lawmakers.

The classification of ETH as a security remains controversial, with the SEC yet to designate it as such, while many view it as a commodity.

Prometheum plans to expand access to a variety of digital and tokenized assets in the future.

Custodial services for these assets are expected to launch in the third quarter of 2023.

The firm aims to comply with SEC regulations, which classify most tokens as securities.

ARB, the native token of the Arbitrum network, is designed for faster and cheaper transactions on Ethereum.

Prometheum's compliance team is responsible for determining which tokens qualify as securities, a complex legal matter for regulators.

The SEC has indicated that UNI might be classified as a security, a claim that Uniswap Labs disputes.