GMEX, a provider of multi-asset exchange and post-trade technology, on Thursday announced the launch of the GMEX Fusion Digital Capital Markets technology suite to offer institutional investors a hybrid solution supporting multiple digital assets.
Built on IBM’s Blockchain Platform, the suit will support all forms of digital assets, including cryptocurrencies and security tokens.
The company also partnered with multiple exchanges and custodians including DAG Global, which is using the suit to settle and execute Bitcoin and Ethereum trades, transferring BTC/ ETH between customer accounts held by Coinbase and Kraken.
“Our partnership with GMEX guarantees our success in completing live transactions using GMEX Fusion technology on IBM Blockchain Platform,” Sean Kiernan, chief executive of DAG Global, said. “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.”
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Adding multiple support for digital assets
With the new suit, GMEX Fusion is now offering support to digital assets in a wide area of services including trading, clearing, settlement, registration, custody, and management of traded cryptocurrencies.
Built on Hyperledger Fabric, IBM Blockchain Platform provides a secure platform to build, govern, operate, and grow blockchain networks, with the ability to deploy components in multiple clouds or on-premise environments.
For GMEX Fusion, IBM’s blockchain manages digital assets that represent multiple types of financial instruments simultaneously, along 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,” Hirander Misra, CEO of GMEX Group and Chairman GMEX Technologies, 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”