GMEX Group, a leading provider of exchange and post-trade solutions, has partnered with INGOT Coin in a joint venture to develop INGOT Coin’s Blockchain based All-Inclusive-Ecosystem.
GMEX’s Fusion, a hybrid centralized and Blockchain based global exchange trading, market surveillance, post-trade infrastructure and digital banking solution, will provide the infrastructure for INGOT Coin’s multi-asset platform, which includes equities, debt, FX, derivatives, commodities, cryptocurrencies and digital assets.
INGOT Coin brings the Crypto universe and the current traditional financial industry together. The Ecosystem mixes centralized and Blockchain-enabled integrated services such as digital wallet storage and real-time settlement management.
Additionally, the platform will allow for the tokenization of traditional assets and provide real-time clearing to allow margin trading without a CCP. INGOT Coin will also offer digital banking with full cryptocurrency and fiat currency support; and brokerage house platforms.
Iman Mutalq, Founder of INGOT Coin, commented:
“GMEX is an extremely vital partner for us here at INGOT Coin, as we believe they strive to keep up with the latest technological advancement and always provide turnkey solutions to business and firms in different industries.” She added that “We believe in our partners, especially GMEX, and know that they will deliver the best of both innovation and technical development. Our partnership with GMEX has just started and is in no means limited to the development of INGOT Coin, we are actually joining our forces to change the future of Blockchain and Cryptocurrencies.”
The terms of the partnership include GMEX developing the components of INGOT Coin to deliver a cost and time efficient trading experience to all participants. Both companies will capitalize on the new partnership as they grow their networks.
Hirander Misra, Chairman and Chief Executive Officer of GMEX Group, said:
“The INGOT Coin ecosystem is the first of its kind combining networks through collaboration.” He added “INGOT Coin links the Crypto universe to the traditional financial industry covering the complete vertical and horizontal value chain from trading and broking, exchange execution, clearing, settlement, custody and digital banking enabled by a combination of Blockchain and centralized solutions and services.”
The first Minimum Viable Product (MVP) of the INGOT Coin ecosystem will be available for testing in the coming months.