ZUG, Switzerland & LONDON–(BUSINESS WIRE)–aXedras Group AG (aXedras) announces that it has completed its Series B funding round, including a strategic investment from the World Gold Council (WGC) which will be represented on the board by David Tait, CEO of WGC . The aXedras team is delighted to have reached this final milestone and will use this round of funding to move the company into a phase of growth and global scale.
aXedras uses blockchain/distributed ledger technology to develop and implement a secure and confidential digital supply chain solution for the precious metals industry, and to immutably document gold from mine to end user .
Urs Röösli, CEO of aXedras, said:
“We are delighted to partner with WGC and look forward to building on the work we have already done. Our Bullion Integrity Ledger™ provides investors, consumers and all market participants with provenance, integrity and chain of custody references. This is a crucial step for the gold market in its digital transformation; this will help keep gold relevant for 21st investors of the century.
“We are participating in the WGC and London Bullion Market Association (LBMA) Gold Bullion Integrity Pilot Program to demonstrate how our proven technology ensures gold integrity by effectively digitizing the global supply chain Golden. »
David Tait, Chairman and CEO of the World Gold Council, said:
“The WGC recognizes that initiatives such as the Gold Bar Integrity Program require industry-wide collaboration, but also significant funding to ensure their success. This project is essential to improve the infrastructure of the market and that is why we have invested in aXedras. We are committed to returning all trading revenue generated from this investment to the industry, for the benefit and positive development of the global gold market.
The Gold Bar Integrity Program, currently underway, has brought together representatives from across the gold supply chain. This transformation project is the first step towards a digital industry standard and a more aligned gold industry, allowing them to work together for a more accessible and transparent market. aXedras’ solution, the Bullion Integrity Ledger™, is already used by leading gold refiners and logistics companies, and as part of the Gold Bar Integrity program, the company will now expand this work to pilot participants.
Notes to editors
aXedras provides a secure digital supply chain solution serving the global precious metals ecosystem. As an independent Swiss IT solutions provider, aXedras aims to take the precious metals industry to the next level of digitalization. The DLT/blockchain-based Bullion Integrity Ledger™ enables provenance data transparency (ESG*-proof) and real-time chain of custody. It is a member-based network for peer-to-peer interaction between stakeholders, thus granting reliable and immutable data. Product integrity is guaranteed from suppliers, refiners, carriers, vaults, banks, watch manufacturers and jewelers to the end consumer.
The Bullion Integrity Ledger™ guarantees a unique combination of efficiency, integrity, traceability and confidentiality of data and business transactions.
aXedras was founded in 2018 and is headquartered in Zug, Switzerland.
Learn more about www.axedras.com
Video: aXedras – Connecting and digitizing the precious metals industry – YouTube
*Environmental, Social & Governance (ESG) Criteria
World Gold Council:
We are the world’s gold experts.
Leveraging our vast knowledge and experience, we strive to enhance understanding of the gold market and highlight the value of gold to individuals, investors and the world at large.
Collaboration is the cornerstone of our approach. We are an association whose members are the most forward-thinking gold mining companies in the world. By combining insights from our members and other industry partners, we seek to unlock gold’s evolving role as a catalyst for progress that meets society’s needs.
We develop standards, expand access to gold, and remove barriers to adoption to drive demand and support a dynamic and sustainable future for the gold market. From our offices in Beijing, London, Mumbai, New York, Shanghai and Singapore, we have a positive impact around the world.
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