Earlier this week, blockchain precious metals firm
Tradewind Markets announced it completed its first trade using the Tradewind Origins blockchain provenance management platform.
The trade involved the sale of gold by Agnico Eagle Mines to the Bank of Montreal. The transaction was confirmed by the Royal Canadian Mint, which consisted of 5,000 ounces of London Bullion Market Association quality-verified gold, worth about $7.4 million.
Launched last November, the Origins platform tracked the transfer of ownership and supply chain data through to the formal assumption of ownership by Bank of Montreal. Agnico provided provenance details of the gold mined from Agnico’s LaRonde mine in Quebec, and the Royal Canadian Mint refined it and tagged it with the particulars of the origin of the precious metal.
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