Page 31 - Bullion World Volume 5 Issue 05 May 2025

Bullion World | Volume 5 | Issue 05 | May 2025

Key Takeaways From Bullion

Integrity Forum 2025 –

Where The Supply Chain Connects

How is digital transformation
reshaping the precious metals
industry by fostering trust
and transparency through a
collaborative approach?

To answer the various questions,
aXedras’ Bullion Integrity Forum
– 6th edition – welcomed industry
leaders from across the supply
chain to further discuss how
we could, as one, transform the
industry towards greater integrity,
efficiency and transparency.

Key takeaway 1: Over 50% of LBMA Good Delivery refiners and custodians
have been onboarded onto LBMA GBI database.

Since 2019, LBMA has worked with the industry to automate risk identification and flag potential issues
modernise its system to meet today’s market demands quickly will play a vital role in enhancing confidence
for greater transparency. In 2022, aXedras participated across the market.”Ruth Crowell, CEO – LBMA.
in the global GBI pilot, developed by the World Gold What is next for the LBMA GBI Database - to move
Council and the LBMA. Over 30 organizations from from monthly to near-time Responsible Sourcing data
13 locations, including producers, refiners, vaults and reporting. Future plans consist of expanding the GBI
market participants contributed to shaping the final RfP database to include features such as full traceability
in 2023. Eventually, aXedras was mandated to develop from mine to market, deeper analytics for regulators
LBMA GBI Database launched in January 2025. and investors and further integration of security
technologies. This will take a collective effort to
“The GBI Database will initially focus on two crucial ensure that our common quest towards a future where
datasets: Refiner Data and London Vault Data. This investors have better trust and confidence in precious
means faster, more secure data collection and metals can be established
processing. Beyond this, the platform’s ability to

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