GMEX Fusion Releases ForumCustody and ForumWallet Services to Safely Store Crypto
Two new products, ForumCustody and ForumWallet, have been announced by GMEX technologies.
These new products are specifically designed to offer the company’s services to high volume asset holders. These are the latest additions to the GMEX Fusion product suite which offers trading and post-trading services to clients.
Forums custody, according to GMEX, works with cryptocurrency wallets as well as third-party wallets to monitor the funds that come in and go out of them.
It also does not depend on the associated trading system and can run independently of it. It allows connectivity to the nodes by way of its direct blockchain adaptor interface to the ledger.
Security measures have also been taken to prevent fraud and theft. ForumCustody maintains an internal balance and also locks all withdrawal requests untold confirmation has been made. This is a very important feature as the hacking of wallets is a major problem for a number of crypto users and some have had significant amounts of crypto stolen as a result.
ForumWallet acts as a secure digital vault solution for wallet management.
It also has very flexible usage. It can be connected to its sister product ForumCustody. Along with this, it can be deployed by an exchange or third-party custodians.
The end goal of all these efforts is to secure institutional investment for the crypto industry. This is why these products are designed for not your everyday crypto user but for high volume investors.
This is important as a heavy influx of large scale investors will help push crypto into the limelight of the financial world. These products touch on a number of points to ensure that the investors they are targeting are convinced of their value.
First, their ease of use will be appealing to those who are just getting started with crypto investments. Also, their emphasis on securing client funds will also endear their profits to their target market.
The company, on their part, has expressed enthusiasm about the project.
“We are delighted to extend GMEX Fusion to provide the digital custodian product suite, which satisfies the growing demands for digitally enabled market infrastructure,” said Hirander Misra, CEO of GMEX Group and chairman of GMEX Technologies.
This is the latest development following an eventful 2018 for the company where they created a new extension in partnership with Mauritius International Derivatives and Commodities Exchange’ and Hybrid Stock Exchange Corporation Limited, an exchange platform on the NEM blockchain, and ThinkCoin.