Gold Council Invests in aXedras' Blockchain-based Supply Chain Management System
The World Gold Council (WGC) has made a strategic investment in aXedras, a Swiss-based company specialising in supply solutions for the precious metals sector. This move is part of the WGC's ongoing efforts to ensure the success of initiatives like the Gold Bar Integrity Programme, a joint initiative with the London Bullion Market Association (LBMA) that aims to utilise blockchain technology.
The WGC's CEO has also joined the board of aXedras, further strengthening the partnership between the two organisations. The investment was made during a Series B funding round, although the exact amount remains undisclosed.
aXedras and Peer Ledger are the two startups announced as solution providers for the Gold Bar Integrity Programme. This programme, announced in March, seeks to enhance the transparency and traceability of gold bars, providing deeper insights and early access to legislative updates.
The WGC believes that initiatives like the Gold Bar Integrity Programme require industry-wide collaboration. By investing in aXedras, the WGC is demonstrating its commitment to this collaborative approach and its faith in aXedras' ability to contribute to the success of the programme.
The Gold Bar Integrity Programme is a significant step forward in the gold industry's digital transformation, and the WGC's investment in aXedras underscores its belief in the potential of blockchain technology to revolutionise the sector.
The WGC's investment in aXedras is a testament to the growing importance of blockchain technology in the precious metals industry. As the industry continues to evolve, it is likely that we will see more partnerships and investments like this one, as organisations seek to leverage technology to improve efficiency, transparency, and security.
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