Munich & Zug, 1 February 2023 – The aspiring start-up aurumX, which stands for digital precious metals services – becomes the latest member of the aXedras™ Ecosystem. aurumX acts as holistic provider of precious metal services for all kind of investors. The collaboration with aXedras represents a mutual fit to drive digital transformation and to take advantage of increased transparency around physical precious metals – based on the blockchain-based Bullion Integrity Ledger™.
aurumX and its founding partner B.H. Mayer's Kunstprägeanstalt GmbH, which is one of the world’s leading private minting companies with over 50 years of precious metal know-how, are happy to announce joining the aXedras™ Ecosystem. aurumX’ business is based on digital pillars from the very beginning and, therefore, it wants to integrate the value added by aXedras into its product range for the benefit of the investors in precious metals.
The digital transformation of the life-cycle of respectively the services offered around precious metals empowers the needed transparency and efficiency when it comes to the handling of physical assets. For one thing, the underlying blockchain technology does ensure the immutability of data around the provenance and chain of custody of physical precious metals. Then again, blockchain technology-based audits add additional peace of mind for the investors when they decide to store their physical precious metals with a trusted custodian. The auditor can digitally acknowledge the physical existence of the investor’s assets on a regular base.
aXedras with its industry-aligned solution, the Bullion Integrity Ledger™, is a technology partner for aurumX, who has clear visions on how to realize its vision towards a more transparent precious metal industry. aXedras is proud to advance its solution in order to support aurumX realizing its vision and implementing novel, digital services and products around physical precious metals.
Christoph Zangl, Co-Founder at aurumX: ”Choosing the right partners in a competitive industry like ours is crucial. With aXedras, we have found the perfect partner to support our vision of a state-of-the-art digitalized precious metals service for the future. The decisive factor in our decision to join forces was that both companies follow the direction of innovation rather than of imitation. Knowing the challenges in the supply chain, both upstream and downstream, digitalized precious metals products will become reality with our ecosystems”.
Urs Röösli, CEO at aXedras, adds: “The combination of aurumX as holistic services provider around physical precious metals and B.H. Mayer’s Münzprägeanstalt as leading mint joining the aXedras™ Ecosystem at the same time, represents a unique opportunity. With their individual strengths and offerings, they can transparently record the provenance of sourced materials, process them to high-quality products and distribute them to the market – safeguarding the products’ digital integrity. This will add significant value to aurumX’ customers in the near future.”
As aurumX, we bring buyers and sellers in the precious metals market together. Founded in 2022, aurumX is not reinventing the precious metal, but rethinking precious metal services. aurumX aims to provide a digitally fully integrated eco-system for the entire precious metals cycle. Full autonomy for the customer, clear traceability and precious metals in real time, both up- and downstream, become reality. See more on www.aurumx.com
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 blockchain-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 unique combination of efficiency, integrity, traceability and confidentiality of data and business transactions. Learn more at https://www.axedras.com/
Media contact: aXedras AG, Philipp Stockinger or Kathrin Wolff Schmandt, email@example.com, +41588062222