GMEX Technologies has launched GMEX Fusion, built on IBM blockchain platform.
Multi-asset post-trade solution provider GMEX Technologies Ltd, a subsidiary of GMEX Group, has launched GMEX Fusion Digital Capital Markets technology suite (GMEX Fusion).
GMEX group offers post-trade business solutions in multiple asset classes such as equities, debt, cryptocurrencies, etc. GMEX already supports transactions between multiple cryptocurrencies.
IBM Blockchain Platform is a major player in crypto trading. It is an enterprise-grade blockchain platform built on Hyperledger fabric. It is a secured platform for blockchain networks and can adapt to multiple clouds or on-premise environments.
By using IBM Blockchain Platform for GMEX Fusion, GMEX has brought together cutting-edge technology with enterprise-grade infrastructure. GMEX Fusion will allow institutional investors, traders, exchanges, central securities depositories (CSDS), etc., to connect their financial instruments with a range of digital assets like Cryptocurrencies, security tokens and margin-traded crypto derivatives, simultaneously. Thus, it will create a bridge between financial assets and digital assets. That will enable growth in the Cryptocurrency market. IBM Blockchain will also enable inter-bank messaging that will facilitate settlement.
Jerry Cuomo, IBM VP of Blockchain Technologies says, IBM Blockchain Platform is a “foundational technology that can merge old architectures with new.” Meaning connect financial assets with digital assets.
Hirander Misra, Chairman & CEO of GMEX, say, GMEX Fusion will “connect numerous pools of liquidity…under a single aggregated trading, clearing, and settlement solution.”
Thus, GMEX Fusion is one more step towards mainstreaming of Cryptocurrency and integrating the digital market with the financial market; the local with the global, with both of them transferring their strengths and weaknesses to each other. The use of IBM Blockchain Platform for GMEX Fusion shows that GMEX will not leave any stone unturned for achieving its objective.
As governments across the world still grapple with creating a regulatory framework for Cryptocurrency; it is clear that it has received thumbs up from the market.