ING Bank Spins Off Its Cryptocurrency Custody Platform to GMEX Group

ING Bank spins off its cryptocurrency custody platform Pyctor to GMEX Group. Netherlands-based ING Bank has spun off Pyctor, its cryptocurrency custody and post-trade infrastructure platform, which becomes a service offering within GMEX. GMEX CEO Hirander Misra was appointed chairman of Pyctor, which will continue to work with the bank and collaborate with ING’s digital assets team, according to a press release.