• Market Cap: $1,147,676,533,437.08
  • 24h Vol: $39,203,288,267.76
  • BTC Dominance: 44.73%
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

Dutch bank ING sells digital asset tool Pyctor to GMEX

Jon Hartney by Jon Hartney
July 11, 2022
in Bitcoin, Blockchain, Business, Market
0
Dutch bank ING sells digital asset tool Pyctor to GMEX
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

GMEX has acquired ING’s Pyctor business to connect CeFi and Defi amid the increasing demand for hybrid finance.

ING Group, Dutch multinational banking and financial services corporation, has spun out its digital asset business Pyctor to multi-asset trading infrastructure firm GMEX.

GMEX has acquired ING’s institutional-grade digital asset custody solution Pyctor in a multi-million dollar deal, the companies said in a joint announcement on Monday.

Related articles

NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

June 8, 2023
Polygon Labs president testifies on democratizing the internet with Web3, blockchains

Polygon Labs president testifies on democratizing the internet with Web3, blockchains

June 8, 2023

The Pyctor offering compliments GMEX’s MultiHub service, an institutional cross-platform business launched last year with the mission to bridge the gap between centralized finance (CeFi) and decentralized finance (DeFi), GMEX CEO Hirander Misra told Cointelegraph.

Pyctor expands MultiHub with a number of digital asset-focused capabilities, including smart contract features, post-trade custodial and institutional network capabilities like fragmentation of private keys.

Pyctor is also designed to support regulatory compliance, including a major Anti-Money Laundering framework by the Financial Action Task Force (FATF) referred to as the Travel Rule. 

“There is a market need for this type of offering built by a bank for banks, asset managers and corporate clients, which can now operate in a neutral environment for institutional participants,” Misra said. Institutions are increasingly seeking to expand their capabilities into digital assets trading and settlement in a way that is interoperable with existing CeFi systems and asset classes, the CEO added, stating:

“This calls for the need for hybrid finance, or HyFi, which delivers a hybrid digital market infrastructure solution with interoperability of multiple blockchains and API integration into traditional systems to ensure a cohesive approach.”

ING started Pyctor as a project incubated out of its innovation arm ING Labs in Amsterdam in 2018. Pyctor’s technology manages private keys by fragmenting and distributing them among blockchain nodes hosted by regulated institutions. 

ING completed Pyctor’s first proof of concept in 2019 and then formed a working group for sandbox trials, including participation from major global banks and firms like BNP Paribas, Citi, ABN AMRO, Societe Generale, Invesco, UBS, State Street, Forge and others.

Related: JPMorgan trials blockchain for collateral settlement in after-hours trading

As previously reported by Cointelegraph, ING has been working on proprietary cryptocurrency custody technology tools since at least 2019 alongside many other blockchain-related activities. In 2021, ING conducted a trial of a DeFi peer-to-peer lending protocol with the Netherlands Authority for the Financial Markets.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

by Jon Hartney
June 8, 2023
0

Enjin chief technology officer Witek Radomski said the new blockchain aims to promote creativity by facilitating the

Polygon Labs president testifies on democratizing the internet with Web3, blockchains

Polygon Labs president testifies on democratizing the internet with Web3, blockchains

by Jon Hartney
June 8, 2023
0

The US House Committee explores blockchain and Web3’s future as industry leaders testify on democratizing the

US federal court dismisses lawsuit against DeFi platform PoolTogether

US federal court dismisses lawsuit against DeFi platform PoolTogether

by Jon Hartney
June 8, 2023
0

The DeFi community funded the protocol's legal defense through a $14 million nonfungible token sale back in 2022

EU watchdog targets crypto ads on Instagram, Youtube, TikTok, Twitter

EU watchdog targets crypto ads on Instagram, Youtube, TikTok, Twitter

by Jon Hartney
June 8, 2023
0

The largest European consumer rights group alleges crypto marketers on popular social networks use misleading

GameStop fires CEO Matt Furlong months after axing crypto push

GameStop fires CEO Matt Furlong months after axing crypto push

by Jon Hartney
June 8, 2023
0

The executive, once instrumental to the company’s NFT efforts, was “terminated” amid lackluster Q1 earnings

Load More
  • Trending
  • Comments
  • Latest
NEXO risks 50% drop due to regulatory pressure and investor concerns

NEXO risks 50% drop due to regulatory pressure and investor concerns

September 30, 2022
51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

October 14, 2022
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022
Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner

Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner

October 11, 2022
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0
Crypto owners banned from working on US Government crypto policies

Crypto owners banned from working on US Government crypto policies

0
Korean startup Uprise lost $20M shorting LUNC

Korean startup Uprise lost $20M shorting LUNC

0
Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0
NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

June 8, 2023
Polygon Labs president testifies on democratizing the internet with Web3, blockchains

Polygon Labs president testifies on democratizing the internet with Web3, blockchains

June 8, 2023
US federal court dismisses lawsuit against DeFi platform PoolTogether

US federal court dismisses lawsuit against DeFi platform PoolTogether

June 8, 2023
EU watchdog targets crypto ads on Instagram, Youtube, TikTok, Twitter

EU watchdog targets crypto ads on Instagram, Youtube, TikTok, Twitter

June 8, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • NFT platform Enjin forks Polkadot parachain Efinity to new mainnet June 8, 2023
  • Polygon Labs president testifies on democratizing the internet with Web3, blockchains June 8, 2023
  • US federal court dismisses lawsuit against DeFi platform PoolTogether June 8, 2023
  • EU watchdog targets crypto ads on Instagram, Youtube, TikTok, Twitter June 8, 2023
  • GameStop fires CEO Matt Furlong months after axing crypto push June 8, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$26,441.00-0.87%
  • ethereumEthereum(ETH)$1,845.14-0.91%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.00%
  • binancecoinBNB(BNB)$262.84-3.91%
  • usd-coinUSD Coin(USDC)$1.000.00%
  • rippleXRP(XRP)$0.52-1.82%
  • staked-etherLido Staked Ether(STETH)$1,842.65-1.17%
  • cardanoCardano(ADA)$0.326934-3.56%
  • dogecoinDogecoin(DOGE)$0.068041-0.03%
  • solanaSolana(SOL)$18.73-5.60%
  • matic-networkPolygon(MATIC)$0.78-2.06%
  • tronTRON(TRX)$0.077515-0.02%
  • litecoinLitecoin(LTC)$88.12-2.01%
  • polkadotPolkadot(DOT)$5.01-2.08%
  • binance-usdBinance USD(BUSD)$1.00-0.27%
  • avalanche-2Avalanche(AVAX)$13.94-3.28%
  • shiba-inuShiba Inu(SHIB)$0.000008-0.57%
  • daiDai(DAI)$1.00-0.02%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,543.00-0.39%
  • uniswapUniswap(UNI)$4.62-1.96%
  • leo-tokenLEO Token(LEO)$3.52-0.35%
  • chainlinkChainlink(LINK)$5.99-1.76%
  • cosmosCosmos Hub(ATOM)$9.58-3.82%
  • okbOKB(OKB)$44.51-1.31%
  • moneroMonero(XMR)$144.42-0.99%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.11%
  • ToncoinToncoin(TON)$1.660.58%
  • ethereum-classicEthereum Classic(ETC)$16.99-0.97%
  • stellarStellar(XLM)$0.087104-1.93%
  • bitcoin-cashBitcoin Cash(BCH)$111.81-0.19%
  • true-usdTrueUSD(TUSD)$1.00-0.19%
  • lido-daoLido DAO(LDO)$2.18-7.99%
  • internet-computerInternet Computer(ICP)$4.16-3.92%
  • filecoinFilecoin(FIL)$4.13-4.14%
  • quant-networkQuant(QNT)$111.03-4.35%
  • AptosAptos(APT)$7.74-3.48%
  • crypto-com-chainCronos(CRO)$0.059383-0.35%
  • hedera-hashgraphHedera(HBAR)$0.048447-2.03%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • ArbitrumArbitrum(ARB)$1.13-2.33%
  • vechainVeChain(VET)$0.017817-3.59%
  • nearNEAR Protocol(NEAR)$1.42-3.74%
  • apecoinApeCoin(APE)$2.91-2.20%
  • the-graphThe Graph(GRT)$0.113880-2.16%
  • paxos-standardPax Dollar(USDP)$1.000.35%
  • fraxFrax(FRAX)$1.00-0.40%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • eosEOS(EOS)$0.891.26%
  • rocket-poolRocket Pool(RPL)$47.43-1.49%
  • the-sandboxThe Sandbox(SAND)$0.488271-4.53%
  • blockstackStacks(STX)$0.65-0.29%
  • algorandAlgorand(ALGO)$0.123975-6.84%
  • elrond-erd-2MultiversX(EGLD)$35.08-2.78%
  • optimismOptimism(OP)$1.38-2.20%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,981.47-0.80%
  • aaveAave(AAVE)$59.52-2.27%
  • render-tokenRender(RNDR)$2.23-4.38%
  • fantomFantom(FTM)$0.293008-2.30%
  • tezosTezos(XTZ)$0.84-3.22%
  • decentralandDecentraland(MANA)$0.418740-5.18%
  • theta-tokenTheta Network(THETA)$0.76-1.82%
  • usddUSDD(USDD)$1.000.17%
  • immutable-xImmutableX(IMX)$0.72-0.77%
  • axie-infinityAxie Infinity(AXS)$6.24-4.83%
  • BitDAOBitDAO(BIT)$0.482837-1.63%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.820.35%
  • radixRadix(XRD)$0.0671640.81%
  • havvenSynthetix Network(SNX)$2.12-4.37%
  • Bitget TokenBitget Token(BGB)$0.4818880.96%
  • kucoin-sharesKuCoin(KCS)$6.84-2.82%
  • flowFlow(FLOW)$0.63-3.75%
  • neoNEO(NEO)$9.02-2.87%
  • galaGALA(GALA)$0.026120-2.34%
  • curve-dao-tokenCurve DAO(CRV)$0.76-2.14%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • bitcoin-cash-svBitcoin SV(BSV)$30.23-0.90%
  • terra-lunaTerra Luna Classic(LUNC)$0.000098-0.08%
  • gemini-dollarGemini Dollar(GUSD)$1.00-0.24%
  • gatechain-tokenGate(GT)$4.08-1.16%
  • makerMaker(MKR)$629.04-0.58%
  • injective-protocolInjective(INJ)$6.87-4.45%
  • kavaKava(KAVA)$0.97-15.68%
  • klay-tokenKlaytn(KLAY)$0.166065-6.86%
  • marumaruNFTmarumaruNFT(MARU)$0.24991121.40%
  • bittorrentBitTorrent(BTT)$0.0000010.07%
  • iotaIOTA(MIOTA)$0.179901-1.48%
  • pax-goldPAX Gold(PAXG)$1,920.41-0.70%
  • Tokenize XchangeTokenize Xchange(TKX)$6.14-2.85%
  • casper-networkCasper Network(CSPR)$0.0442470.11%
  • compound-ethercETH(CETH)$37.05-0.72%
  • conflux-tokenConflux(CFX)$0.229710-4.86%
  • tether-goldTether Gold(XAUT)$1,945.76-0.85%
  • xdce-crowd-saleXDC Network(XDC)$0.0343562.70%
  • chilizChiliz(CHZ)$0.087691-4.39%
  • PepePepe(PEPE)$0.000001-2.98%
  • huobi-tokenHuobi(HT)$2.84-1.15%
  • binaryxBinaryX(BNX)$165.90-5.97%
  • gmxGMX(GMX)$51.24-2.45%
  • mina-protocolMina Protocol(MINA)$0.490481-2.67%