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GMEX taps IBM Blockchain to boost its digital assets

GMEX GMEX Technologies Ltd has launched its GMEX Fusion Digital Capital Markets technology suite (GMEX Fusion), using IBM’s blockchain platform to support the business of its digital assets. The deal was signed in the third quarter of 2019, according to a statement.

The technical advancement is expected to empower institutional investors with a hybrid solution supporting multiple digital assets, including cryptocurrencies, security tokens, etc.

GMEX Fusion is designed to support multi-cryptocurrency transactions. The platform uses the blockchain technology to offer trading and post-trade digital asset solutions to traders, exchanges, clearing-houses, central securities depositories (CSDs) and custodians.

IBM Blockchain will help enable GMEX Fusion to manage digital assets that represent multiple types of financial instruments simultaneously with inter-bank message flows to facilitate settlement downstream, and exchange messaging upstream, the statement added.

IBM Blockchain is a flexible, enterprise-grade blockchain platform built on hyper ledger fabric. It provides a secured platform to build, govern, operate and grow blockchain networks, with the ability to deploy components in multiple clouds or on-premise environments.

GMEX Technologies Ltd, a wholly-owned subsidiary of GMEX Group. The group offers solutions for global financial markets through its multi-asset exchange trading and post-trade business solutions and technology ecosystems.

The company’s 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 tokenized assets. It offers the added benefit of interconnection to multiple partner exchanges, to create global networks of liquidity, the company shared via the statement.

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