The World Gold Council invests in aXedras

Founded in 2018, aXedras uses blockchain / distributed ledger technology to develop and implement a secure, confidential, digital supply chain solution for the precious metals industry and immutably document gold from the mine to the end-user. The company’s solution DLT/blockchain-based ‘Bullion Integrity Ledger’ is a decentralised, secure and member-based platform that connects all stakeholders of the global precious metal industry for peer-to-peer interaction. This enables transparency of provenance data (ESG-proof) and chain of custody in real-time. aXedras’ solution is already being used by major gold refiners and logistics companies.

The fresh capital raised in the Series B financing round will see aXedras move into the scaling phase. The round also includes a strategic investment from the World Gold Council (WGC), global experts on gold. The company aims to improve the understanding of the gold market and underscore gold’s value to individuals, investors, and the world at large. As part of its investment WCG joins aXedras team with David Tait, CEO of WGC on aXedras’ Board of Directors.

Urs Röösli, Chief Executive Officer, aXedras commented: “We are excited to partner with WGC and look forward to expanding on the work we have already done. Our Bullion Integrity Ledger provides investors, consumers, and market participants with provenance, integrity, and chain of custody credentials. This is a critical step forward for the gold market in its digital transformation; it will help to keep gold relevant for 21st-century investors.

aXedras is currently participating in the WGC and London Bullion Market Association (LBMA) Gold Bar Integrity Programme pilot to demonstrate how its proven technology ensures the integrity of gold by effectively digitalising the global gold supply chain.

The Gold Bar Integrity Programme has brought together representatives from the entire gold supply chain as the first step toward a digital industry standard and a more aligned gold industry, enabling it to work together for a more accessible and transparent market. aXedras’ solution, the Bullion Integrity Ledger is already being used by major gold refiners and logistics companies.

“The WGC recognises that initiatives like the Gold Bar Integrity Programme require industry-wide collaboration and significant funding to ensure success. This project is essential to improve market infrastructure, and that is why we’ve invested in aXedras. We have committed to return any and all commercial revenue earned from this investment back into the industry for the benefit and positive development of the global gold market,” said David Tait, Chief Executive Officer, World Gold Council.

(Press release/RAN)