GMEX Group is partnering up with cryptocurrency firm ThinkCoin to develop a blockchain-powered multi-asset exchange.
The trading technology and post-trade services firm recently launched its own centralised, blockchain-powered exchange, GMEX Fusion, which will be combined with ThinkCoin’s TradeConnect multi-asset trading network.
The combined service will provide options for both decentralised and centralised trading, including central limit order book (CLOB) and request for quote (RFQ) matching models, liquidity management, third-party crypto exchange connectivity and market data.
Traders will be connected to each other via artificial intelligence technology, and TradeConnect will replace commissions with a levy on all trades that will be rebated to network participants in proportion to their activity.
“The ThinkCoin digital token and its associated TradeConnect network integrated with GMEX Fusion will provide traders with the most diverse blockchain-based multi-asset trading and exchange ecosystem on the market today,” said Hirander Misra, CEO of GMEX Group.
“This brings with it a substantial client footprint from the outset to ensure liquidity, which combined with the experience of the team has all the ingredients to make it a market leading proposition.”
ThinkCoin’s chief executive and co-founder Nauman Anees, added that the partnership with GMEX will see both firms explore the full potential of and promise of blockchain technology.