Tampa, FL & London, July 11, 2022 – CEA International LLP (“CEAI”) advises GMEX Group Limited(“GMEX”) on the acquisition of Pyctor digital asset technology from Dutch multinational banking and financial services corporation, ING (“ING”).
Prominent deal-making firm, CEA International LLP (“CEAI”), the London based subsidiary of US-headquartered CEA Group (“CEA”), advised GMEX Group Limited (“GMEX”) on the successful acquisition of Pyctor digital asset technology, from Dutch multinational banking and financial services corporation, ING (“ING”). The transaction was led by Karima Serageldin, Managing Director, CEA International LLP.
Pyctor’s digital post-trade market infrastructure technology is designed for firms operating in regulated environments, and also has wider potential cross-sector application relevance. It provides highly secure digital custody and transactional network services for a broad range of digital assets, as well as delivering interoperability between permissioned and public blockchains.
Pyctor was incubated in ING Neo’s Amsterdam innovation lab, in collaboration with major financial institutions and regulators. ING will continue its relationship with Pyctor; now a service offering within GMEX; and collaborate through ING’s digital assets team.
Hirander Misra, Chairman of GMEX Group said: “We look forward to accelerating our growth plan with this strategic acquisition and are grateful to CEA International for the diligence and effectual support in advising us on the transaction. Pyctor’s network of institutional participants and technology compliments and strengthens the breadth of GMEX’s MultiHub ‘global network of networks’ as part of our strategic ethos of stimulating growth in the digital assets market. 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.”
KarimaSerageldin, Managing Director, CEA International LLP commented:
“CEAI is pleased to have advised GMEX on the acquisition from ING, which further reinforces GMEX’s position as an emerging leader in the provision of ‘connected’ blockchain-infrastructure middleware-technology solutions, and addresses some key related challenges faced in the market around scalability, security and stakeholder interoperability. The acquired Pyctor technology extends GMEX’s software platform capability, with sought-after smart contract management, digital wallet custody management technology, and distinctive blockchain settlement utilising a multi-signatory multi-party approval protocol deployed through a distributed operating model.”
About CEA International LLP
CEA International LLP, is a subsidiary of CEA Group (CEA) which was founded in 1973 and is a leading provider of investment banking and advisory services, in addition to its direct and strategic interests. With a team of experienced personnel worldwide, CEA has an unequalled depth and breadth of industry knowledge, expertise and long-standing industry relationships. CEA has completed over 1,000 transactions totalling $60+ billion in more than 60 countries. CEA’s reputation and track record of success are built on delivering innovative, value-added solutions and services to clients worldwide.
For more information visit www.ceaworldwide.com.
About GMEX Group
GMEX is a global market infrastructure vendor providing multi-asset trading, exchange matching engine and post-trade business solutions, and Ecosystem-as-a-Service(EsaaS) technology. GMEX is focusing its efforts on its core Hub & Spoke proposition based on:
GMEX MultiHub Platform-as-a-Service(PaaS): A cloud-based digital ‘multi-asset network of networks’ trading and post trade digital market infrastructure platform, with API’s to interconnect and enable 3rd party services for multiple financial participants across traditional and digital asset markets;
GMEX Fusion (Software and SaaS): A hybrid (traditional and digital) exchange and post trade technology software product suite to enable 3rd party financial venue “spoke” nodes into the MultiHub PaaS cloud. The MultiHub has been designed to enable an API-based seamless many-to-many global connectivity to all market participants, including for carbon exchanges, registries are other stakeholders.
Pyctor is an institutional-grade custody solution for the digital asset ecosystem. It provides safekeeping and transaction services for any digital assets, by utilising its patent-pending multi-signatory and multi-party approval protocol. The solution implements a decentralized operating model that leverages upon hardware technologies like hardware Security Module (HSM), as well as proprietary Multi-Party Computation(MPC) software. The benefits of this approach are increased security, resilience, 24/7 availability and risk mitigation. Pyctor’s Travel Rule Module(Pyxis), offers FATF Rule 16 compliance and is compatible with the Travel Rule Protocol (TRP). It enables regulated DeFi and digital assets AML compliance.
For more information visit www.pyctor.com.
J. Patrick Michaels, Jr.
Chairman & CEO
CEA International LLP
Melanie Budden, The Realization Group
Tel:+44 (0)7974 937 970