Anchorage Digital Bank, a pioneer of digital asset custody, and cryptocurrency trading platform Prometheum are in the final approval phase for an alternative trading system, or ATS, tailed specifically for crypto investors.
Prometheum Ember ATS, also known as PEATS, is vying to bring alternative trading system technology to digital assets. PEATS will open to traders pending final regulatory approval by the United States Securities and Exchange Commission, or SEC. PEATS is currently undergoing the SEC’s rigorous “Three-Step Process” for approving a public ATS. Once launched, Anchorage will custody all digital assets transacted through PEATS.
Commonly found in traditional financial markets, an ATS is a public platform that matches the buy and sell orders of its users. As such, it is not regulated as an exchange. ATS accounts represent a significant share of liquidity found on publicly-traded markets worldwid
Aaron Kaplan, founder and co-CEO of Prometheum, explained the significance of an ATS system for cryptocurrency markets:
“A public ATS for digital assets will allow more efficient order matching and better price discovery, bringing smaller price spreads andTitle: Prometheum and Anchorage set to launch alternative cryptocurrency trading system
Sourced From: cointelegraph.com/news/prometheum-and-anchorage-set-to-launch-alternative-cryptocurrency-trading-system
Published Date: Wed, 31 Mar 2021 17:32:49 +0100