Axedras attracts two prestigious clients

LBMA (London Bullion Market Association) is the international trade association for the global OTC (Over the Counter) bullion market for precious metals. The market is physically located in London, but the participants and clients are located worldwide. LBMA works with miners, investors, fabricators, ETFs, refiners, manufacturers, consumers and central banks from around the world. In addition to acting as the voice of the world’s precious metals market, LBMA is the contact point for regulators, investors and clients.

With the strategic goal to augment transparency in the gold market, LBMA has orchestrated the development of a robust GBI (Gold Bar Integrity) Database that promises enhanced clarity, security, and stability in information-sharing across the market. The GBI Database will serve as a cornerstone for accurate and timely data flow, ensuring Refiners and LBMA Members, have access to a secure and efficient database to securely share information with LBMA. LBMA has selected aXedras as the official service provider for the GBI Database. The database will be launched later in 2024.

The Royal Canadian Mint (the Mint) has implemented a Distributed Ledger Technology (DLT) solution that now makes it possible to perform end-to-end tracing and certify the provenance of gold deposited and processed at its refinery. This solution has been applied in collaboration with aXedras.

Leveraging aXedras' Bullion Integrity Ledger solution, this integration of DLT allows investors, financial institutions, dealers and distributors of Mint bullion products, as well as fabricators, to access secure, standardized and digitalized information about the provenance, and integrity of the production standards related to their products. Mines, recyclers and other precious metals suppliers whose material is refined by the Mint will benefit from numerous business‑to‑business process enhancements, such as seamless immutable data transfer, easy access to reports, audits and more.  It also helps the Mint support industry-wide efforts to improve transparency at every level of the bullion supply chain, which strengthens the integrity of the markets.

The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada’s circulation coins. The Mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada’s prestigious military and civilian honours. 

(Press release / SK)