Blockchain Joint Venture Formed By GMEX And Digital Asset Group

Announcements, Blockchain | May 30, 2018 By:

Trading and post-trade technology vendor GMEX Group and blockhain startup Digital Asset Group (DAG) are forming a joint venture that will aim to bring together mainstream finance and the emerging blockchain and crypto economy.

Based in London, GMEX is offering consulting and technology services as well as derivatives exchanges. The group includes Forum Trading Solutions and GMEX Technologies. The group’s London Derivatives Exchange is a combination of GMEX’s exchange business and GMEX Derivatives Indexes. It was created to take advantage of market opportunities made possible by changes to international regulation in developed markets and by growth in emerging markets.

The Digital Asset Group (not to be confused with Blythe Masters’ Digital Asset) aims to provide traditional banking services and solutions for digital asset businesses, as well as facilitate an entry into the emerging blockchain economy for existing regulated financial services firms.

The joint venture will be structured around a number of strategic areas including exchange initiatives with associated post-trade services including digital registry, a blockchain clearing house, decentralized depository and custody, digital and crypto Banking, crypto fund management and emerging technology incubation.

“We consider this partnership as a leading example of the synergetic convergence of the most advanced technology tools being applied to the intersection of the traditional financial sphere and crypto economy, and we are making serious bets that this will deliver the most sophisticated and efficient solutions on the market by utilizing the most advanced IT-solutions steered by a diverse and experienced team on the very forefront of FinTech, RegTech, LegalTech and InvestTech” said Dmitry Kaminskiy, Co-Founder and CIO of DAG.

“This JV aligns their objective with our ethos to connect traditional financial services with emerging digital assets and the wider crypto economy to provide the leading trusted platform by bringing together established regulated banking, fund management and exchange business models with emerging innovation and blockchain technology,” said Hirander Misra, Chairman and CEO of GMEX Group.