Six months ago, we wrote that government-owned Perth Mint was to work with ASX-listed Security Matters on a gold supply chain solution that includes blockchain and chemical markers. Last week the trueGold platform made a step forward by creating a joint venture between Security Matters and a Perth Mint subsidiary. The company has A$1 million in initial funding from a third party, with additional investment expected.
The aim is to track gold from mines to refiners, vault operators, depositories, mints, wholesalers, and retailers to ensure it’s ESG compliant and address counterfeiting and corporate transparency.
It’s expected that trueGold will “enhance, complement and promote” current ESG frameworks from the World Gold Council and the London Bullion Market Association.
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