GMEX and DAG Team Up on Digital and Blockchain Venture

The partnership will see the two firms collaborate on a range of solutions, projects, and initiatives where technologies such as crypto assets, blockchain and artificial intelligence can be integrated into mainstream banking, finance and exchange practices. The joint effort will look at streamlining the transition to hybrid business models by merging existing infrastructures with the emerging technologies, the firms say.

“Our intention is to build a completely clean, regulated bridge between digital assets and the traditional financial sector which has not really been done,” says Sean Kiernan, co-founder and CEO of DAG. “We knew we needed a partner like GMEX that have a regulated financial services infrastructure in the very core of what they do, to be able to deliver that.”

The collaborative effort aims to bring together GMEX’s expertise in building both traditional and crypto solutions, such as GMEX Fusion, and Digital Asset Group’s core business objective to bridge traditional finance with the digital economy. Hirander Misra, chairman and CEO of GMEX Group, explains that larger mainstream institutions are quickly realizing the value of embracing cryptocurrencies and blockchain technology. In this rapidly developing industry, he believes that firms are becoming more eager to enter partnerships and collaborate in an effort not to miss out on the action, and to capitalize on potential opportunities.

“They [firms] realize that they can be disrupted from the outside in and are very open to joint ventures themselves because the savvy CEOs and board members would rather disrupt themselves than someone else disrupt them,” he says. “Because at least then they are hedged and are able to then diversify with the new world and adapt their existing business.”