GMEX-DAG JV to Connect Traditional Banking to Blockchain - The Industry Spread

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

GMEX

GMEX-DAG JV to Connect Traditional Banking to Blockchain

May 30, 2018

Digital Asset GroupGMEX Group (GMEX) has teamed up with the Digital Asset Group (DAG), a financial service provider, to become the first fully-integrated financial group to bring together the practices of regulated banking, finance, and exchanges with emerging innovation and a digital world enabled by Blockchain, Distributed Ledger and Artificial Intelligence technologies.

The shared expertise of the leaders of Digital Asset Group will be able to provide traditional banking services and solutions for digital asset businesses and will facilitate entry into the emerging Blockchain and Crypto economy for existing regulated financial services firms.

Sean Kiernan, co-founder and CEO of Digital Asset Group, combines expertise in traditional regulated banking with the DeepTech expertise of Dmitry Kaminskiy, the co-founder and Chief Innovation Officer of DAG.

GMEX activity in the sector includes the launch of GMEX Fusion, a unique integrated centralized and distributed solution set combining the established GMEX technology. GMEX Fusion is live in multiple exchanges and post-trade venues. Hirander Misra, Chairman and CEO of GMEX Group, was appointed to the DAG Advisory Board as part of the Joint Venture.

Sean Kiernan, co-founder and CEO of Digital Asset Group, commented:

“The Digital Asset Group is delighted to be forming a strategic alliance with GMEX who have an impeccable track record in building traditional and crypto exchanges and delivering innovative and forward-thinking solutions with an emphasis on quality and robustness.” He added, “We hope that all of this, combined with DAG’s expertise, will give our clients and partners the utmost confidence that we can offer the most compelling products and solutions for bridging traditional financial services with the digital asset space.”

Dmitry Kaminskiy, Co-Founder and CIO of DAG
Dmitry Kaminskiy, Co-Founder and CIO of DAG

Dmitry Kaminskiy, Co-Founder and CIO of DAG, said:

“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.”

The Joint Venture will focus on a number of strategic areas including the delivery of Exchange initiatives with associated post-trade services including digital registry; Blockchain clearinghouse; decentralized depository and custody; Digital and Crypto Banking; Crypto Fund Management and emerging technology incubation.

Hirander Misra, Chairman and CEO of GMEX Group
Hirander Misra, Chairman and CEO of GMEX Group

Hirander Misra, Chairman and CEO of GMEX Group, added:

“The GMEX team and I are thrilled to be working with the DAG team who have a huge pedigree of successful ventures in the Financial Services, FinTech and wider technology space.” He continued, “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.”

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