SECDEX

What SECDEX does

SECDEX Group Limited is a Seychelles-incorporated, privately held market-infrastructure operator founded in 2020 by GMEX Group and Digital Partners Network. It runs a fully regulated, multi-asset hybrid exchange and post-trade stack under four Seychelles FSA entities: SECDEX Exchange (securities, debt, RWAs, spot commodities, carbon credits and derivatives in traditional and digital form), SECDEX Clearing (CCP clearing house), SECDEX Depository (CSD and registry), and SECDEX Digital Custodian (regulated under the FSA sandbox). The platform is powered end-to-end by the GMEX Technologies Forum suite (ForumMatch for CLOB/RFQ/Auction matching, ForumPortal for tokenisation and primary issuance, ForumTrader for OMS and trader workstation, ForumDetect for surveillance, plus ForumCCP, ForumCSD and ForumCustody for post-trade and permissioned-blockchain custody) and is complemented by the sister-company ZERO13 Hub for AI- and blockchain-driven carbon-market connectivity.

SECDEX monetises through a layered fee model: transaction-based trading fees on the regulated exchange, listing and primary-issuance fees for STOs and conventional listings, clearing and risk-management fees from the CCP, depository and registry fees (safekeeping, dividends, corporate actions), and digital custody fees from the sandbox-regulated SDC. Tokenisation-as-a-service is offered alongside partners such as Distichain and GMEX Fusion. Pricing is quote-based and negotiated with members and issuers; no public rate card exists.

The go-to-market is enterprise and relationship-led. Distribution combines direct institutional sales (exchanges, market operators, brokers, custodians, issuers) with a Sponsor channel (Hensley&Cook as approved Sponsor), embedded API/platform integrations (Distichain, ZERO13, Bondstream, GMEX Fusion), co-development partnerships (Tokenovate, Sustainable Capital, ZERO13) and event-driven market awareness (COP28, COP29, TOKEN2049, Africa Fintech Summit). Customer concentration sits with a small set of named issuers and partners — Solid Oak Insurance PCC Ltd, AccretivPlus Healthcare Portfolio Limited, XTCC (a world-first exchange-traded VCC product), Iberia Gold and Mahidol University — while over USD 500 million of assets have been tokenised and held in SECDEX Digital Custody.

Name

SECDEX

Legal name

SECDEX Group Limited

Website

https://secdex.net

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

SECDEX Group operates a Seychelles FSA-regulated, multi-asset hybrid exchange and post-trade ecosystem (Exchange, Clearing, Depository, Digital Custodian) for securities, RWAs, carbon credits and derivatives, serving institutional issuers, brokers and ESG-asset participants via the GMEX Forum technology stack and ZERO13 carbon hub.

Ownership category

akta.pro rank

Product category

Digital Asset Exchange & Market Infrastructure

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Securities and Commodity Exchanges (5232), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG)

akta.pro secondary industries

Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA), Permissioned / KYC DEXs (Institutional On-Chain Venues) (FSADABAN)

Keywords

• Digital asset exchange
• Securities exchange
• Central counterparty clearing
• Digital asset custody
• Security token offerings

Headquarters

HQ city

Mahé

HQ country

Seychelles

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Exchange trading fees: SECDEX Exchange operates a regulated multi-asset (securities, debt, RWAs, spot commodities, carbon credits, derivatives) trading venue in traditional and digital form, generating transaction-based revenue from matched trades.
2. Listing and primary issuance fees: Issuers list securities and conduct Security Token Offerings (STOs) on SECDEX Exchange, with supporting professional services (legal, valuations, capital raising) from Digital Partners Network, generating listing and issuance-related fees.
3. CCP clearing and risk management fees: SECDEX Clearing acts as a fully regulated Central Counterparty, providing credit checks, position keeping, margining, operational due diligence and initial guarantee of fund deposits for cleared trades, earning clearing and risk management fees.
4. Central securities depository and registry fees: SECDEX Depository provides safekeeping, deposits/withdrawals, dividend and interest processing, and corporate actions (including proxy voting) for listed securities, earning depository and registry fees.
5. Digital custody fees (SDC): SECDEX Digital Custodian, regulated under the Seychelles FSA sandbox, offers custody for digital assets including security tokens and cryptocurrencies such as Bitcoin, with strong encryption of wallet keys and backup storage, earning custody, escrow and related service fees.
6. Tokenisation-as-a-service and platform integrations: SECDEX has tokenised over half a billion USD of assets with immutability and transparency on the Ethereum blockchain, providing tokenisation services integrated with partners such as Distichain and GMEX Fusion, generating professional services and integration revenue.

Pricing tiers

Go-to-market motion4 records

Distribution channels7 records

Marketing channels9 records

Core offering

SECDEX is a Seychelles-based, fully regulated multi-asset hybrid market infrastructure ecosystem operating four licensed entities: a securities exchange (SECDEX Exchange), a central counterparty clearing house (SECDEX Clearing), a central securities depository and registry (SECDEX Depository), and a digital custodian (SECDEX Digital Custodian/SDC) regulated under the Seychelles FSA sandbox. It provides regulated primary issuance, secondary trading, clearing, settlement, depository and digital custody services for traditional and tokenised securities, debt, spot commodities, carbon credits and derivatives.

Product overview

SECDEX is a Seychelles-based, fully regulated multi-asset hybrid (digital and conventional) market infrastructure ecosystem. It operates as a platform-plus-modules architecture consisting of four core regulated entities — SECDEX Exchange (regulated securities exchange for securities, debt, RWAs such as spot commodities and carbon credits, and derivatives in both traditional and digital form), SECDEX Clearing (regulated CCP clearing house), SECDEX Depository (regulated central securities depository and registry), and SECDEX Digital Custodian (SDC, regulated under the Seychelles FSA sandbox) — together with the SECDEX Digital Marketplace (SDM) trading venue that operates as part of SDC. The platform is powered end-to-end by the GMEX Technologies software suite — ForumMatch, ForumPortal, ForumTrader, ForumDetect, ForumCCP, ForumCSD and ForumCustody — which delivers the trading, post-trade, market surveillance and digital custody modules. On top of the regulated exchange, SECDEX lists innovative products such as the XTCC exchange-traded voluntary carbon credit investment product and connects to the ZERO13 Hub ecosystem to digitally interconnect carbon market participants, registries and exchanges across jurisdictions.

Differentiator

Problem solved

Functional benefit

Brands

• SECDEX Exchange: Regulated securities exchange with multi-asset capabilities including derivatives and digital assets
• SECDEX Clearing
• SECDEX Depository
• SECDEX Digital Custodian (SDC)
• SECDEX Digital Marketplace (SDM)

Products and services

• SECDEX Exchange Regulated multi-asset hybrid digital and conventional securities exchange authorised by the Seychelles FSA, offering primary issuance and secondary trading of securities, debt, real-world assets (spot commodities, carbon credits) and derivatives in both traditional and digital form, including Security Token Offerings (STOs). Targeted at institutional issuers, brokers and trading members.
• SECDEX Clearing Regulated central counterparty (CCP) clearing house authorised by the Seychelles FSA, providing clearing and settlement services for securities and derivatives listed on SECDEX Exchange, including credit checks, position keeping, margining, operational due diligence and initial guarantee of fund deposits.
• SECDEX Depository Regulated central securities depository and registry authorised by the Seychelles FSA for securities listed on SECDEX Exchange, handling safekeeping, deposits/withdrawals, dividend and interest processing, and corporate actions such as proxy voting.
• SECDEX Digital Custodian (SDC) Regulated digital custodian operating under the Seychelles FSA sandbox, providing custody for real-world digital assets including security tokens, cryptocurrencies (Bitcoin), commodities and carbon credits, with secure encryption of wallet keys and backup storage. Over USD 500 million of assets tokenised with immutability and transparency on the Ethereum blockchain and held in SDC custody.
• SECDEX Digital Marketplace (SDM) Trading venue operating as part of SECDEX Digital Custodian (SDC) where real-world digital assets in custody—including securities, commodities, carbon credits and cryptocurrencies—can be traded.
• XTCC Exchange-Traded Carbon Credit Investment Product World's first exchange-traded high-quality voluntary carbon credit (VCC) investment product, listed on SECDEX Exchange as well as Bermuda Stock Exchange and Deutsche Börse. Available as 3 or 4-year fixed-term (with principal protection) or open-ended product, purchasable in USD, GBP, AED, EUR, BTC and ETH.

Quantifiable outcome

• Over USD 500 million of assets tokenised on the platform
• +2 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability5 records

Feature10 records

Partnerships

14 partnerships are on record, tiered minor, flagship and core.

• Mahidol UniversityminorStrategic or Co-development Partner · 16 October 2025Signed a five-year MoU with ZERO13 and Unique Transformation (announced 2025-10-16) to advance Thailand's carbon credit ecosystem and promote sustainable development through research, capacity building, ecosystem development and global connectivity.
• Unique TransformationminorStrategic or Co-development Partner · 16 October 2025Co-signatory alongside Mahidol University and ZERO13 on a five-year MoU (announced 2025-10-16) to advance Thailand's carbon credit ecosystem and promote sustainable development through research, capacity building, ecosystem development and global connectivity.
• GMEX GroupflagshipStrategic or Co-development PartnerFounding shareholder of SECDEX Group and exclusive technology provider via GMEX Technologies Limited, supplying the full Forum suite (ForumMatch, ForumPortal, ForumTrader, ForumDetect, ForumCCP, ForumCSD, ForumCustody) that powers the SECDEX Exchange, Clearing, Depository and Digital Custodian. GMEX is a London-based provider of multi-asset exchange and post-trade technology.
• Digital Partners Network (DPN)flagshipStrategic or Co-development PartnerCo-founding shareholder of SECDEX Group, providing specialist legal, finance, compliance, corporate structuring, strategic consulting, technology-enabled digital transformation and potential investment through a digital fund (Digital Investment Fund PCC). DPN is described as a future-focused digital professional services firm.
• GMEX Technologies LimitedflagshipTechnology or IntegrationWholly owned subsidiary of GMEX Group that provides and manages the technology powering SECDEX Exchange, Clearing, Depository and Digital Custodian, including ForumMatch (CLOB/RFQ/Auction matching), ForumPortal (tokenisation/primary issuance), ForumTrader (web trader workstation/OMS), ForumDetect (surveillance), ForumCCP, ForumCSD and ForumCustody (permissioned blockchain).
• ZERO13flagshipStrategic or Co-development PartnerSister company and GMEX Group initiative; an automated AI and blockchain-driven international carbon exchange, registry and aggregation hub offered as Platform-as-a-Service. ZERO13 connects SECDEX to multiple international carbon exchanges, registries, custodians and ESG project owners via APIs and the ZERO13 Chain (Pyctor). SECDEX executed and settled the world's first VCC spot and derivatives trades via this integration.
• InvestmintminorStrategic or Co-development PartnerSouth Africa-based SECDEX Group partner that has developed a platform connecting businesses in need of loans with investors via invoice factoring or project financing, with investors able to browse, select and fund projects.
• Hensley&CookcoreChannel Partner/ Reseller/ DistributorApproved Sponsor of SECDEX Exchange Limited, providing tailored professional services (automation, digitalisation, AI, blockchain) with sister company CRESCO Software Technology (UAE). Supports IPOs and technical listings on SECDEX Exchange.
• DistichaincoreTechnology or IntegrationUAE-based SaaS provider of digital B2B ecommerce marketplaces. Signed a partnership agreement with SECDEX Digital Custodian for integrated digital custody services via the GMEX Fusion hybrid centralised & blockchain DLT suite, enabling secure, swift, seamless global B2B trading with reduced risk.
• BondstreamcoreTechnology or IntegrationProprietary B2B fintech platform and Global 100 award-winning solution providing cap table management and distribution channel support. Integrated with XTCC and ZERO13 to deliver authenticity, transparency and liquidity across platforms and carbon credit projects.
• Sustainable Capital PLCcoreStrategic or Co-development PartnerUK-based green bond issuance platform (recognised on the NASDAQ Sustainable Bond Network) offering flexible, quick-to-market solutions for green and sustainable businesses. Partner in launching XTCC and bringing high-quality carbon credits to regulated capital markets.
• TokenovatecoreStrategic or Co-development PartnerCo-developer with GMEX ZERO13 of the world's first smart legal contract for voluntary carbon credit derivatives trades using ISDA definitions, executed on BSV Blockchain and integrated with the SECDEX ecosystem via ZERO13.
• Island Carbon Consult (ICC)minorGTM or Marketing PartnerSustainability consultancy focused on accelerating the low-carbon transition for Small Island Developing States. Collaborated with SECDEX and ZERO13 at the COP28 Seychelles Pavilion to showcase digitally interconnected ESG markets.
• Hamilton FintechminorStrategic or Co-development PartnerLondon-based blockchain technology company developing Central Bank Digital Currencies (CBDCs), backed by SECDEX Group (an exchange and custody group leading the effort on digital securities and security tokens) among others. Hamilton Fintech launched Jefferson Coin™ stablecoin on 4 July 2020.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• SIX Digital Exchange (SDX): SIX Digital Exchange operates a Swiss-regulated, fully integrated trading, settlement and custody platform for digital assets, directly competing with SECDEX for institutional tokenised securities and DLT-based post-trade workloads. Both offer a regulated, integrated trading-clearing-custody stack for digital assets.
• Securitize Markets: Securitize operates an SEC-registered transfer agent and ATS for digital securities, competing head-to-head with SECDEX for primary issuance, tokenisation services and secondary trading of tokenised securities and private funds.
• GMEX Group: GMEX Group is SECDEX's founding shareholder and exclusive technology provider, supplying the ForumMatch, ForumPortal, ForumTrader, ForumDetect, ForumCCP, ForumCSD and ForumCustody modules that power SECDEX Exchange, Clearing, Depository and Digital Custodian. GMEX also competes in adjacent markets as a multi-asset exchange and post-trade technology provider.
• INX (International Securities Exchange Holdings): INX runs a regulated ATS and digital trading platform for tokenised securities, pursuing a similar hybrid regulated venue proposition to SECDEX. Both compete for institutional issuers and members seeking compliant security token trading and settlement.
• tZERO: tZERO operates a regulated alternative trading system for digital securities and security tokens, directly competing with SECDEX Exchange for primary issuance and secondary trading of tokenised securities. Both venues target issuers seeking a regulated venue for STOs with integrated post-trade and custody.

Emerging players

• Climate Impact X (CIX): Climate Impact X is a Singapore-based carbon exchange and marketplace backed by DBS, SGX, Standard Chartered and Temasek. CIX competes with SECDEX's ZERO13 ecosystem for VCC trading, project listings and ESG securities infrastructure in Asia.
• AirCarbon Exchange (ACX): AirCarbon Exchange is an Abu Dhabi-based regulated carbon credit exchange trading voluntary and compliance carbon credits. It competes with SECDEX's ZERO13-enabled carbon venue for VCC liquidity, clearing and tokenisation of carbon assets.

Broad incumbents

• Deutsche Börse / Xetra: Deutsche Börse cross-lists XTCC alongside SECDEX and operates one of the world's largest regulated exchanges with growing DLT and digital asset capabilities. It is a broad incumbent that competes with SECDEX for listings of tokenised and ESG securities and could compress SECDEX's institutional reach over time.
• Nasdaq Private Market / Nasdaq Digital Assets: Nasdaq operates regulated equity and derivatives exchanges and is expanding into digital asset custody, marketplace infrastructure and tokenisation services. It competes broadly with SECDEX across issuer services, trading and digital custody for tokenised real-world assets.

Regional players

• Bermuda Stock Exchange (BSX): Bermuda Stock Exchange is a cross-listing venue where SECDEX-listed products such as XTCC are admitted, making it a peer in regulated digital securities listings across offshore jurisdictions. BSX offers competing regulated listing services for security tokens and digital asset products from a similarly small-jurisdiction base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/secdexg

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SECDEX