Latest news with #Counterparty
Bahrain News Gazette
13-05-2025
- Business
- Bahrain News Gazette
GFO-X Launches Regulated Digital Asset Derivatives Trading Venue
First Institutional Trade Successfully Executed The New UK Trading Venue Brings Institutional-Grade Market Infrastructure, Central Clearing, and Deep Liquidity to Digital Asset Derivatives LONDON, May 13, 2025 (GLOBE NEWSWIRE) — GFO-X today announced the successful launch of its UK FCA regulated trading venue for centrally cleared digital asset derivatives. The venue is designed to meet the increasing institutional demand for secure, transparent, and compliant digital asset futures and options. GFO-X brings together best-in-class market infrastructure, deep liquidity, and central clearing to solve for credit and significantly reduce counterparty risk. As part of its successful debut, the first institutional trade between two leading financial institutions, Virtu Financial and IMC, was executed on GFO-X and centrally cleared through LCH DigitalAssetClear, marking a milestone in the evolution of institutional-grade digital asset markets. The new venue brings additional depth, breadth, and diversification to the limited choices in centrally cleared digital asset index derivatives. GFO-X CEO, Arnab Sen , said , ' The launch of GFO-X is a further foundational step toward increased institutional digital asset derivatives trading, providing the infrastructure, central clearing, robust risk mitigation, and liquidity. With our first trade executed between two leading financial institutions providing deep liquidity, we are expanding the market for centrally cleared digital asset derivatives.' Addressing the Institutional Surge in Digital Asset Derivatives Demand The global market for digital asset derivatives has seen explosive growth, with options and futures trading volumes growing exponentially. Institutional investors, including hedge funds, proprietary trading firms, and asset managers, increasingly turn to structured products underpinned by derivatives to hedge risk, enhance yield strategies, and gain exposure to crypto markets with greater regulatory clarity. GFO-X has been purpose-built to bridge the gap between traditional finance and digital assets by offering: Regulated Trading & Transparency – Operating under UK FCA authorisation, ensuring compliance with global financial standards. Institutional-Grade Liquidity – Deep order books supported by industry leading market makers and participants, including IMC, Laser Digital and Virtu Financial. Leading Clearing Bank integrations at launch – including ABN AMRO Clearing, Nomura and Standard Chartered. Central Clearing for Counterparty Risk Mitigation by LCH DigitalAssetClear ensures secure margining, collateral management, and default protections. Advanced Market Infrastructure – A high-speed matching engine designed for low-latency execution and high-frequency trading. With institutional adoption accelerating, GFO-X will continue expanding its product suite, initially offering Bitcoin index futures and options. Market participants can now onboard and begin trading, with several additional leading financial institutions already lined up for integration. As institutions increasingly seek regulated, scalable solutions for digital asset derivatives trading, GFO-X is positioned to become a premier venue in the evolving landscape of institutional crypto derivative markets. For more information about GFO-X and its upcoming developments, please visit or contact [email protected] . For press enquiries, contact Serra Balls, Eterna Partners [email protected] . Marcus Robinson, Head of DigitalAssetClear and CDSClear, LCH , said, 'We are delighted to partner with GFO-X to launch this highly anticipated service from LCH SA. The regulated clearing infrastructure within LSEG's post trade ecosystem has allowed us to build something meaningful for our participants and address the availability of options for a rapidly growing asset class. It is essential that we find ways to offer regulated, segregated and trusted routes to provide customers with a diverse breadth of services and we are excited to continue working with GFO-X to offer a regulated marketplace for this asset class.' Barry Polak, Lead Product Commerce, ABN AMRO Clearing, said, ' We are excited to partner with GFO-X, the UK's first regulated and centrally cleared trading venue dedicated to digital asset derivatives. This strategic collaboration underscores our shared commitment to advancing the institutional digital asset futures and options market. By leveraging LCH DigitalAssetClear's clearing services, we enhance transaction security and minimise counterparty risk, offering our clients unparalleled confidence in trading Bitcoin futures and options. A logical step to continue to lead the way to safe and transparent markets.' Osi Lilian, IMC Strategic Investments Co-Lead , said, 'IMC was proud to be one of the earliest investors in GFO-X in 2021. We aligned with their vision of establishing the UK's first regulated and centrally cleared trading venue for digital asset derivatives, built on secure, high-performance technology and robust risk management. As a market maker, our strategic connection with GFO-X underscores our commitment to the institutional digital asset futures and options market – a rapidly evolving space we believe holds significant potential for continued growth and opportunity.' Olivier Dang, Head of Ventures at Laser Digital , said, 'We are thrilled to partner with GFO-X as they launch the UK's first regulated and centrally cleared trading venue dedicated to digital asset derivatives. This collaboration aligns perfectly with our vision to drive innovation and growth in the digital asset market.' Andy Ross, Global Head, Prime & Financing, Financing & Securities Service, Standard Chartered, said, 'We're delighted to support the launch of GFO-X derivatives and to join LCH SA as a general clearing member to enable our clients to trade and clear. We continue to invest in servicing our clients broadly across the crypto space in coin, token and derivative form. ' Virtu makes markets globally and is excited to support new and innovative platforms for digital assets in this role. We see broadening adoption and increasing demand as the crypto markets continue to mature and embrace the risk management benefits and capital efficiencies of centralised clearing.' About GFO-X GFO-X is the UK's first regulated and centrally cleared trading venue dedicated to digital asset derivatives. GFO-X provides comprehensive risk management with clearing provided by the London Stock Exchange Group's (LSEG) LCH SA DigitalAssetClear. Combining proprietary high-performance technology with industry-leading partnerships and infrastructure, GFO-X delivers the requirements necessary to grow the institutional digital asset derivatives market. Backed by M&G Investments and authorised by the UK Financial Conduct Authority (FCA) in 2022, GFO-X's regulation-first approach has enabled it to partner with some of the largest financial institutions in the world. GFO-X believes the digital asset futures and options markets will grow exponentially over the coming years as the asset class matures and more sophisticated investors begin to participate in greater size. By solving market constraints such as counterparty risks and technology challenges, GFO-X has been established to deliver a robust market structure and innovative products to propel the next leg of growth of the digital asset ecosystem. Contact: [email protected] +44 7762943498 GlobeNewswire Distribution ID 1001096243
Associated Press
25-02-2025
- Business
- Associated Press
DMG Blockchain Solutions Inc. Announces MOU to Purchase 10-Megawatt Data Center Infrastructure
VANCOUVER, British Columbia, Feb. 24, 2025 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FRANKFURT: 6AX) ('DMG' or the 'Company'), a vertically integrated blockchain and data center technology company, announces it has signed a memorandum of understanding (MOU) with an undisclosed counterparty ('Counterparty') to purchase the infrastructure for a prefabricated 10-megawatt air-cooled data center ('PDC') that meets Sensitive Compartmented Information Facility (SCIF) specifications (which is generally a military requirement) for its deployment of Generative Artificial Intelligence (Gen AI) computation facilities. DMG and Counterparty have agreed to work towards a definitive agreement within the next 90 days, during which time DMG will perform its due diligence as a follow-up to its already performed initial inspection of the PDC at Counterparty's site. DMG will issue an additional news release related to the final structure and terms of the potential transaction, and other material information if and when it becomes available. Upon execution of the definitive agreement, DMG would pay Counterparty for the PDC US$5 million as an upfront payment and the balance of the to-be-agreed-upon price based on future DMG revenue resulting from Gen AI computing off-take agreements as part of vendor financing being offered to DMG. Revenue from off-take agreements may be derived from either GPUs that DMG purchases or the colocation of customer-purchased GPUs. DMG is currently focused on securing off-take agreements, which may be sourced from entities that require SCIF requirements, such as federal government agencies/departments, non-governmental entities (potentially with enterprise SCIF requirements), Counterparty and/or with other parties with whom the Company has a relationship to develop Gen AI business opportunities, which may be outside of Canada. DMG intends to deploy the PDC at one or more locations, as the PDC can be partitioned into smaller units due to its modular nature. While the infrastructure forms the basis for a Gen AI data center, it does not include medium-voltage power distribution, battery storage or backup power generation, the configuration and amount of which have yet to be determined. Additionally, the PDC is not facilitated with computing, networking nor storage systems, all of which will need to be installed to realize revenue from off-take agreements. DMG's CEO Sheldon Bennett stated, 'This MOU catalyzes our entry into Generative AI in a very meaningful way. Not only does the PDC shorten our time to deployment by at least a year, but it also gives us the needed credibility as a new AI entrant to secure off-take agreements in a timely manner. Given the SCIF (military-grade) nature of the infrastructure, we will be focused on off-take opportunities that prioritize this need, as we believe we can garner a revenue premium for offering this capability. This MOU also enables us to proceed with our Gen AI strategy in a most-capital efficient manner, helping us to maximize our return to shareholders.' About DMG Blockchain Solutions Inc. DMG is a publicly traded and vertically integrated blockchain and data center technology company that manages, operates and develops end-to-end digital solutions to monetize the digital asset and artificial intelligence compute ecosystems. Systemic Trust Company, a wholly owned subsidiary of DMG, is an integral component of DMG's carbon-neutral Bitcoin ecosystem, which enables financial institutions to move bitcoin in a sustainable and regulatory-compliant manner. Follow @dmgblockchain on X and subscribe to DMG's YouTube channel. For further information, please contact: On behalf of the Board of Directors, Sheldon Bennett, CEO & Director Tel: +1 (778) 300-5406 Email: [email protected] Web: For Investor Relations: For Media Inquiries: Chantelle Borrelli Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include the execution of a definitive agreement for the MDC and the timing thereof, the expected benefits and outcomes of the MDC including the potential Gen AI computing off-take agreements, the Company's strategy for growth, the planned monetization of certain product and service offerings, developing and executing on the Company's products, services and business plans, the launch of products and services, events, courses of action, and the potential of the Company's technology and operations, among others, are all forward-looking information. Future changes in the Bitcoin network-wide mining difficulty or Bitcoin hashrate may materially affect the future performance of DMG's production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hashrate and mining difficulty. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as 'may', 'expect', 'estimate', 'anticipate', 'intend', 'believe' and 'continue' or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoin; security threats, including a loss/theft of DMG's bitcoin; DMG's relationships with its customers, distributors and business partners; the inability to add more power to DMG's facilities; DMG's ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG's business. For further information concerning these and other risks and uncertainties, refer to the Company's filings on In addition, DMG's past financial performance may not be a reliable indicator of future performance. Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of viruses and diseases on the Company's ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoin from DMG or its customers, consumer sentiment towards DMG's products, services and blockchain technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs, increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.
