ING has spun out Pyctor to GMEX Group (GMEX), a specialist in digital business and technology solutions for exchanges and post-trade market infrastructure.

Pyctor’s digital post-trade market infrastructure technology is designed for firms operating in regulated environments. 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.
 
Pyctor is now a service offering within GMEX. Hirander Misra is appointed Chairman of Pyctor with other senior appointments to be announced in due course. ING will continue its relationship with Pyctor and collaborate through ING’s digital assets team.