Digital assets specialist GMEX has acquired the crypto custody service Pyctor from Dutch bank ING.
Pyctor, which also has a post-trade infrastructure platform designed for digital assets, was originally incubated in ING’s Neo innovation lab.
The platform will now continue as a service offering within GMEX with GMEX chief executive taking over as chairman and other senior appointments to be announced.
ING will continue to work with Pyctor, collaborating through its digital assets team.
No financial details of the transaction were disclosed.
Meanwhile, Swiss Post, the country’s fifth largest banking group, has announced plans to launch its own in-house crypto custody platform.
The bank expects to be able to offer its 2.7 million customers the ability to trade bitcoin and other cryptocurrencies via its trading and custody platform within the next two years.
©2022 fundsTech
