The GMEX Group successfully acquires ING Bank’s post-trade digital assets solution, Pyctor. Pyctor’s spin-off from ING to GMEX boosts the latter’s Multi-Hub platform as a defining integration of traditional and decentralized (DeFi) finance.
Pyctor, now a GMEX service offering, shall maintain its relationship with IGN through their digital asset team.
“With this acquisition, GMEX Group consolidates its position as the first platform to offer an end-to-end multi-asset, multi-sector Hybrid Finance (HyFi) solution that bridges the gap between off-chain Traditional Finance (TradFi) and on-chain Decentralized Finance (DeFi) across jurisdictions.”
“Pyctor’s decentralized network of institutional participants and Multi-Party Computation (MPC) proprietary custody technology offering compliments and strengthens the breadth of GMEX’s Multi-Hub ‘global network of networks’ as part of our strategic ethos of stimulating growth in the digital assets market,” says Hirander Misra, CEO, GMEX Group.
Pyctor’s post-trade market infrastructure caters to global custodians, institutional issuers, and allied capital market stakeholders. In combination with GMEX’s Multi-Hub, it empowers financial markets participants to securely issue, access, manage, store, and transact digital assets. It does all of this whilst still maintaining regulatory compliance with their traditional assets.
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“We now have found the right partner in GMEX to scale Pyctor to the next stage. It brings the ideal connectivity between multiple trading parties and digital assets custodians, while addressing interoperability issues experienced in the market.”
CEA International LLP acted as the official acquisition advisor to the GMEX Group for the Pyctor acquisition.
