Tempus Network, a wholly-owned subsidiary of Burkhan World Investments, will lead the institutional investment round into GMEX Group, a provider of digital business and technology solutions for capital markets participants, exchanges and post-trade market infrastructure.
The investment round will be completed via Tempus Network’s special purpose vehicle in UAE alongside key Middle Eastern investment institutions.
Tempus Network is a new patent pending model of income generation for data users. Under the partnership, this will be combined with GMEX’s MultiHub platform to integrate traditional and decentralised finance.
The strategic investment will see Burkhan and GMEX jointly develop various platforms and projects for innovative digital financial services, commodities and sustainability markets in the Middle East and North Africa (MENA) region.
Commenting on the investment, Shahal Khan, chairman of Burkhan and Tempus Network, says: “This strategic partnership between GMEX and the Burkhan ecosystem, including its Tempus Network, is designed to meet the expectations of institutions, millennials and Generation Z.
“It serves the goal of bringing digital assets to a wider audience in decentralised and centralised environments as part of a hybrid approach to allow new economic growth to be achieved”.
Hirander Misra, chairman of GMEX Group, adds: “Our collaboration with Burkhan focuses on the creation of various digital exchange ecosystems and joint ventures in the MENA region. It will deliver interconnected digital infrastructure hubs with global two way distribution.
“This will leverage GMEX technology and its MultiHub in conjunction with Tempus Network and synergise with other fintechs both through partnerships and investments.”
The deal is expected to close in June 2022, pending necessary approvals.
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