Gold Trading Gains Momentum With ‘Big Four’ Blockchain Partnership
Global consultancy EY and New York blockchain startup Paxos have announced that they are co-developing new technology solutions for the gold market. Aimed at providing new tools for the clearing and settlement of gold transactions, the partnership will see the two firms leveraging Paxos’ blockchain-based network, Bankchain, as a basis for the services. David Williams, EY’s partner for capital markets innovation, said in a statement: "We believe that the future of capital markets requires ever stronger and more innovative ecosystems, and expect this to be a key early example of the....
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The bitcoin trade in Brazil has surpassed that of gold by over 7 percent. Which is a better investment and trading option, gold or bitcoin? The Brazilians like many other countries seem to prefer the latter. The digital currency trading volumes in Brazil has exceeded that of gold in the past six months. According to reports, the total trade volumes of bitcoin on Brazilian cryptocurrency exchanges has surpassed the gold spot trading activity on Brazilian Securities, Commodities and Futures Exchange by about 7 percent. The trade volumes were calculated from the beginning of this year till....
The Royal Mint, owned by Her Majesty’s Treasury, will soon begin a “digitized gold offering” made possible by blockchain technology, bitcoin’s underlying innovation. Announced today, The Royal Mint revealed its partnership with CME Group, a derivatives marketplace to develop the digital gold product called Royal Mint Gold (RMG). For a 100-year-old institution, the announcement represents a significant endorsement of the technology. “RMG will change the way traders and investors trade, execute and settle gold,” The Royal Mint stated. Initially, up to $ 1 billion worth of gold in RMG will be....
Blockchain applications could see further development in India after a new partnership between technology behemoth Microsoft and advisory firm KPMG, commonly known one of the “Big Four” auditing firms in the world. Announced today, the strategic partnership will fundamentally see the two companies collaborate on the digitization of large and mid-market Indian enterprises, powered by the Internet of Things (IoT). The outcome of the partnership could see Microsoft and KMPG clients in India deploy cloud-based automation, IoT-enabled operational insights and analytics, increased mobility among....
The partnership enables investors to purchase grams of accredited gold as ERC-20 tokens. Gold wholesalers are starting to find new ways to expand their businesses to retail, thanks to blockchain-based tokenization. International bullion trading company AgaBullion and United Kingdom-based fintech Aurus Technologies have signed a partnership to offer gold-backed tokens in the Turkish market.The partnership will see investors own grams of LBMA-accredited gold via AurusGOLD. As a gold-backed ERC-20 token on the Ethereum blockchain, AurusGOLD (AWG) is minted and distributed by precious metals....
One of the UK’s oldest bullion producers and the entity that strikes British coins, the Royal Mint has just announced a gold-backed blockchain effort. In partnership with one of the world’s largest options and futures firm CME Group, the two companies aim to release its blockchain project in 2017. 1,000 Year Old Royal Mint to Create Blockchain-Based Gold....