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.
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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.”
Karima Serageldin, 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.”