GMEX Technologies Ltd. has just launched the latest release of its GMEX Fusion Digital Capital Markets technology suite, built on IBM (NYSE: IBM) Blockchain Platform. This technical advancement empowers institutional investors with a hybrid solution and will support multiple digital assets, including cryptocurrencies, security tokens, and more.
GMEX Fusion is designed to support multi-cryptocurrency transactions and uses blockchain technology to offer trading and post trade digital asset solutions to exchanges, traders, CSDs, clearing-houses, and custodians. IBM Blockchain Platform helps enable GMEX Fusion to manage digital assets that represent multiple types of financial instruments simultaneously.
DAG Global is using GMEX Fusion to execute and settle Bitcoin and Ethereum trades, as well as transferring BTC/ ETH between clients accounts held by the crypto exchanges Coinbase and Kraken.
Sean Kiernan, CEO of DAG Global said:
Our partnership with GMEX guarantees our success in completing live transactions using GMEX Fusion technology on IBM Blockchain Platform. This enables us to trade on multiple exchanges and off exchange over-the-counter (OTC) with consolidation of trading activity and finality of settlement with a single solution.
Jerry Cuomo, IBM Vice President Blockchain Technologies commented:
The work underway with GMEX and DAG Global is further evidence that IBM Blockchain Platform is addressing important financial services industry demands in real production environments and across multiple clouds. It is a foundational technology that can help merge old architectures with new, creating a hybrid approach to support the growing demand for digital assets and we’re excited to be working with GMEX on this pioneering approach.
Hirander Misra, CEO of GMEX Group and Chairman GMEX Technologies added:
We are delighted to collaborate with IBM to power our market leading GMEX Fusion and provide an institutional solution which satisfies the growing demands for digitally enabled market infrastructure fit for regulated environments.” He added,” This is a unique industry approach as it will enable multiple pools of liquidity to connect with multiple custodians with a single aggregated trading, clearing and settlement solution.
GMEX Technologies Ltd. is a wholly owned subsidiary of GMEX Group providing multi-asset post-trade business and technology solutions.