GMEX Technologies Ltd., a wholly-owned subsidiary of GMEX Group providing multi-asset post-trade business and technology solutions, today announced the latest release of its GMEX Fusion Digital Capital Markets technology suite (GMEX Fusion), built on IBM Blockchain Platform, this technical advancement empowers institutional investors with a hybrid solution supporting multiple digital assets, including cryptocurrencies, security tokens, and more.
Already used by multiple exchanges and custodians in both traditional and hybrid environments accessing distributed ledgers, GMEX Fusion is designed to support multi-cryptocurrency transactions. DAG Global is now using it to execute and settle Bitcoin and Ethereum trades, transferring BTC/ ETH between customer accounts held by the two leading cryptocurrency exchanges, Coinbase and Kraken.
GMEX Fusion uses blockchain technology to offer trading and post-trade digital asset solutions to traders, exchanges, clearing-houses, central securities depositories (CSDs) and custodians.
Institutional investors interested in digital assets require enterprise-grade market infrastructure which can be integrated with existing technology and processed in regulated, accountable environments. GMEX Fusion now offers a new approach for supporting these assets in areas such as trading, clearing, settlement, registration, custody, and management of traded cryptocurrencies.
“Our partnership with GMEX guarantees our success in completing live transactions using GMEX Fusion technology on IBM Blockchain Platform.” He added, “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.”
– Sean Kiernan, CEO of DAG Global
IBM Blockchain Platform
IBM Blockchain Platform is a flexible, enterprise-grade blockchain platform built on Hyperledger Fabric. It provides a secured platform to build, govern, operate and grow blockchain networks, with the ability to deploy components in multiple clouds or on-premise environments.
”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.”
– Jerry Cuomo, IBM VP of Blockchain Technologies
GMEX Fusion has implemented the IBM Blockchain Platform to manage digital assets that represent multiple types of financial instruments simultaneously, including cryptocurrencies, security tokens, tokenized commodities and margin traded crypto derivatives; with inter-bank message flows to facilitate settlement downstream, and exchange messaging upstream.
“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.”
– Hirander Misra, CEO of GMEX Group and Chairman GMEX Technologies