Swiss fintech company aXedras has been selected by the London Bullion Market Association (LBMA) and the World Gold Council (WGC) to participate in a pilot project in the second and third quarters of 2022, which aims to ensure the safety and the integrity of gold across its supply chain.
The company's digital platform, Bullion Integrity LedgerTM, has already been launched in collaboration with the LBMA and WGC and ensures the safety and integrity of precious metals as they pass through the supply chain, according to a report on sbma.org.sg.
More than 30 organizations around the world are participating in the aXedras pilot project: 8 mines, 9 refineries, 4 carriers and 10 banks or dealers. The main goal of the project is to demonstrate the success of end-to-end digital supplies of precious metals in the industry on a global scale, which can ensure their full transparency.
As a next step, aXedras will expand its global footprint into the Asia-Pacific region with Singapore as its hub.
Vladimir Malakhov, Rough&Polished
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