aXedras to deliver LBMA GBI Database
Updated: Mar 28
We are excited to announce that LBMA has chosen aXedras as the official service provider for its newly established GBI Database. This solution will emphasize integrity and transparency within the global gold value chains, providing assurance to end-users, investors, banks, and other stakeholders.
Left to right: Patrick Röösli, Sakhila Mirza, Urs Röösli (CEO at aXedras), Ruth Crowell (CEO at LBMA), Steven Lowe
Watch the announcement in the following video
starting at 24:40
aXedras Announced as the Chosen Service Provider for the Groundbreaking Gold Bar Integrity Database
"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."
Source and credit goes to: LBMA (2024): aXedras Announced as the Chosen Service Provider for the Groundbreaking Gold Bar Integrity Database, URL: https://www.lbma.org.uk/articles/axedras-announced-as-the-chosen-service-provider-for-the-groundbreaking-gold-bar-integrity-database, 21.03.2024