The following announcement titled “aXedras Announced as the Chosen Service Provider for the Groundbreaking Gold Bar Integrity Database” was published by the London Bullion Market Association on March 21, 2024.

LBMA is excited to announce the appointment of aXedras as the official service provider for its newly established Gold Bar Integrity (GBI) Database, to be launched later in 2024. This pioneering initiative represents a significant leap forward in digitising the Responsible Gold Guidance and cementing trust within the precious metals market.

With the strategic goal to augment transparency in the gold market, LBMA has orchestrated the development of a robust GBI 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.

Future State: A Global Digital Ecosystem – with Full Chain of Custody

Looking ahead, LBMA envisions a global digital ecosystem where real-time country of origin data is standard. We encourage all value chain actors to continue to build their full chain of custody solutions. Our GBI database supports, and does not replace, their solutions.

About aXedras

aXedras, founded in 2018, is an independent information technology provider headquartered in Zug, Switzerland. Its goal is to take the precious metal industry to the next level of digitalization through one secure digital supply chain solution: the distributed ledger technology (DLT)-based Bullion Integrity Ledger™️, which is a member-based ecosystem for peer-to-peer interaction between the stakeholders of the precious metal market. The Bullion Integrity Ledger™️ ensures the combination of efficiency, integrity, traceability and confidentiality of data and business transactions. Learn more at www.axedras.com.

‍>>Read the official announcement here.

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