Tempus Network, a wholly owned subsidiary of Burkhan World Investments, will provide GMEX Group with an unknown sum of funding. GMEX Group provides capital market participants, exchanges, and post-trade market infrastructure with business and technological solutions.
In collaboration with Middle Eastern investment institutions, the investment will be made through a Special Purpose Vehicle (SPV) in the United Arab Emirates.
The money will be used to “jointly build a range of platforms and projects” in the Middle East and North Africa (MENA) area, including new digital financial services, commodities, and sustainability markets.
Subject to regulatory approvals, the transaction is expected to completion in June 2022.
The collaboration and investment, according to Hirander Misra, chairman of GMEX Group, would use GMEX technology and its MultiHub platform to integrate traditional and decentralised finance.
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