GMEX Launches Crypto Custodian and Vault Services

GMEX Technologies has announced the launch of two new products - ForumCustody and ForumWallet. With this, the company has extended its support to provide digital custodian services to high volume digital asset holders.

Both the products will be a part of the GMEX Fusion product suite which provides digitally enabled hybrid trading and post-trade solutions for exchanges, clearing-houses, and central securities depositories (CSD).

According to the firm, ForumCustody can be hosted and run independently from the associated trading system, with a direct Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term adaptor interface to the Ledger allowing connectivity between different nodes. It uses standard cryptocurrency wallets or interfaces with third-party wallet subsystems for receipt of incoming coins and transfers out to standard cryptocurrency wallets.

To make the system secure, ForumCustody manages internal balances and locks withdrawal requests until confirmed.

ForumWallet, on the other hand, is a digital vault solution for secure wallet management. It can be integrated with ForumCustody and deployed by an exchange or third-party custodian linking to their internal cryptocurrency and digital asset storage.

Targeting the Whales

With these solutions, GMEX is targeting institutional investors who are jumping on the crypto market.

Commenting on this development, Hirander Misra, CEO of GMEX Group and chairman of GMEX Technologies, said: “We are delighted to extend GMEX Fusion to provide the digital custodian product suite, which satisfies the growing demands for digitally enabled market infrastructure.”

Last year, GMEX Group announced the creation of a new venture undertaken in partnership with two companies – the ‘Mauritius International Derivatives and Commodities Exchange’ and Hybrid Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term Corporation Limited, an exchange platform on the NEM blockchain. It also tied up ThinkMarkets’ blockchain subsidiary ThinkCoin.

“This extension is part of the full GMEX Fusion hybrid exchange trading and post-trade product suite that addresses the increasing need for centralized and distributed technology to be implemented together,” Tony Harrop, CEO of GMEX Technologies, added.