• February 27, 2024

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Dutch Bank ING Sells its Digital Asset Custodial Platform Pyctor

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ING has announced it has transferred its digital asset storage solution Pyctor to market infrastructure provider GMEX Group.

According to the announcement:

“Pyctor’s digital post-trading infrastructure technology is designed for firms operating in regulated environments. It provides highly secure storage and transactional network services for a wide range of digital assets, as well as interoperability between public and exclusive blockchains.”

Pyctor was developed by the ING Neo Innovation Lab in collaboration with major financial institutions.

The custodial platform will become a service offering under GMEX.

The bank will reportedly continue to interact with the platform through its group of digital assets.

Oliver Guillaumont, head of innovation and fintech at ING, has said:

“Pyctor has been another innovation success story at ING Neo. The lab incubated the project using the bank’s experience, deep knowledge of digital assets, and continuous feedback from regulators and network participants.”