LONDON, Sept. 19, 2019 /PRNewswire/ -- 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 (NYSE: 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 the latest state-of-the-art 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.
IBM Blockchain Platform helps enable GMEX Fusion to manage
digital assets that represent multiple types of financial
instruments simultaneously, including cryptocurrencies, security
tokens, tokenised commodities and margin traded crypto derivatives;
with inter-bank message flows to facilitate settlement downstream,
and exchange messaging upstream.
Sean Kiernan, CEO of DAG Global
commented: "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."
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 cloud
or on-premise environments.
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."
The deal was signed in third quarter of 2019.
About IBM Blockchain
IBM is recognized as the leading
enterprise blockchain provider. The company's research, technical
and business experts have broken barriers in transaction processing
speeds, developed the most advanced cryptography to secure
transactions, and are contributing millions of lines of open source
code to advance blockchain for businesses. IBM is the leader in
open-source blockchain solutions built for the enterprise. Since
2016, IBM has worked with hundreds of clients across financial
services, supply chain, government, retail, digital rights
management and healthcare to implement blockchain applications, and
operates a number of networks running live and in production. The
cloud-based IBM Blockchain Platform delivers the end-to-end
capabilities that clients need to quickly activate and successfully
develop, operate, govern and secure their own business networks.
IBM is an early member of Hyperledger, an open source collaborative
effort created to advance cross-industry blockchain technologies.
For more information about IBM Blockchain, visit
https://www.ibm.com/blockchain/ or follow us on Twitter at
@ibmblockchain.
About GMEX Group
GMEX Group is a set of companies
that offer leading edge innovative solutions for a new era of
global financial markets by being a global provider of innovative
multi-asset exchange trading and post trade business solutions and
technology ecosystems.
Our key business solutions enable the creation and operation of
cost effective electronic exchanges and post trade infrastructure
in multiple asset classes including equities, debt, FX,
derivatives, commodities, cryptocurrencies and digital tokenised
assets.
We operate in both developing and developed markets through the
establishment of cohesive business and technology ecosystems. GMEX
offers the added benefit of interconnection to multiple partner
exchanges, to create global networks of liquidity.
The GMEX Market Advancement Programme (MAP) is all about
partnerships and creating an ecosystem with exchanges and post
trade market infrastructure operators to deliver centralised,
decentralised & hybrid solutions in a collaborative
fashion.
GMEX Group is comprised of four main businesses:
- GMEX Technologies is a provider of multi-asset traditional and
digital exchange trading and post trade technology through a unique
partnership driven approach
- GMEX Innovation conducts R&D of technologically advanced
new product solutions for exchange trading, clearing and settlement
including hybrid and DLT Blockchain solutions delivered by GMEX
Technologies as GMEX Fusion
- GMEX Services provides strategic consultancy, implementing
services & support for exchanges and market infrastructure
providers across asset classes including digital tokenised
assets
- GMEX Investments makes selective seed and early stage strategic
equity and token investments into market infrastructure and related
Fintech companies
For more information visit www.gmex-group.com or
follow us on Twitter @GMEX_Group
Media contacts
GMEX Group
Melanie Budden
The Realization Group
Tel: +44 (0)7974 937 970
Melanie.budden@therealizationgroup.com
pr@gmex-group.com
IBM
Holli Haswell
720-396-5485
hhaswell@us.ibm.com
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SOURCE IBM