Dutch bank ING sells digital asset tool Pyctor to GMEX
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.The Pyctor offering compliments GMEX’s MultiHub service, an institutional cross-platform business launched last year with the mission to bridge the....
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The digital assets post-trade collaboration also involves Citi, State Street, UBS and others.
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The Dutch central bank has fined cryptocurrency exchange Binance 3.325 million euros for offering crypto services in the Netherlands without the legally required registration. Binance has appealed against the fine and has now submitted an application to register with the central bank. Binance Fined by Dutch Regulator The Dutch central bank, De Nederlandsche Bank (DNB), revealed Monday that it has fined Binance Holdings Ltd. for offering crypto services without registration as required by law. The administrative fine of 3.325 million euros ($3.4 million) was imposed on the cryptocurrency....
Convinced that cryptocurrencies are affecting the tasks performed by monetary authorities around the world, the Dutch central bank has urged for comprehensive international regulations. The call comes after research into the development of crypto assets and policy responses. ‘Proper Regulation Indispensable for Risky Cryptos,’ Dutch Central Bank Insists Bitcoin, tether, and other digital coins are affecting many of the tasks and objectives of central banks and supervisory authorities, according to Steven Maijoor and Olaf Sleijpen, members of the Executive Board of De Nederlandsche Bank....
Netherlands-based bank ABN AMRO has teamed up with Dutch invoice management firm InvoiceSharing to create an innovative FinTech solution for SMEs. According to an announcement from ABN AMRO bank, the two companies are working together to develop a new tool that will provide small business owners with 24/7 insight into their accounts so they can estimate their working capital needs well in advance. They are also creating a robo accountant tool that will read and check invoices, generate journal entries and export the invoices to the business accounts. With the use of this tool, companies....