GMEX Technologies uses IBM Blockchain to support digital assets
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GMEX Technologies uses IBM Blockchain to support digital assets 19 September 2019London Reporter: Jenna Lomax
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GMEX Technologies has launched the latest release of GMEX Fusion Digital Capital Markets technology suite.
Built on the IBM Blockchain platform, the solution provides a secure platform to build, govern, operate and grow blockchain networks.
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The IBM Blockchain platform enables GMEX Fusion to manage digital assets, including cryptocurrencies, security tokens, tokenised commodities and margin traded crypto derivatives with inter-bank message flows to facilitate settlement downstream, and exchange messaging upstream.
GMEX Fusion can be used by traders, exchanges, clearing-houses, central securities depositories and custodians.
DAG Global has also utilised GMEX Fusion to execute and settle bitcoin and ethereum trades, transferring both between customer accounts held by cryptocurrency exchanges, Coinbase and Kraken.
Hirander Misra, CEO of GMEX Group and chairman of GMEX Technologies, said: “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.”
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 with the consolidation of trading activity and finality of settlement with a single solution.”
Jerry Cuomo, IBM vice president of Blockchain Technologies, said: “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.”
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