Abaxx Joins Singapore Bullion Market Association

Core Viewpoint - Abaxx Technologies Inc. has joined the Singapore Bullion Market Association (SBMA) as a Local Associate Member, reflecting its growing involvement in the physical gold market and the expansion of its kilobar futures contract [1][3][4] Company Overview - Abaxx Technologies is a financial software and market infrastructure company, and the majority shareholder of Abaxx Singapore, which owns the Abaxx Commodity Exchange and Clearinghouse [1][6] - The company aims to build smarter markets through better tools and technology, addressing significant societal challenges such as the energy transition [5] Industry Context - The SBMA is a non-profit organization representing various participants in the precious metals value chain, supporting Singapore's role as a regional hub for physical gold trading [2] - The membership of Abaxx in SBMA aligns with the organization's goals to enhance Singapore's leadership in bullion services and market development [4] Market Developments - Abaxx's participation in the SBMA is indicative of its increasing role in the physical gold market, particularly with the growth of its kilobar futures contract [3] - The company has demonstrated the ability to mobilize physical gold as collateral, facilitating T+0 ownership transfer and addressing inefficiencies in the $47 billion gold trade finance segment [4] Strategic Initiatives - The newly launched Abaxx Gold Singapore futures contract aims to establish a physically deliverable benchmark for kilobar gold, supported by modernized title and transfer mechanisms [4] - Abaxx's integrated approach is expected to enhance hedging efficiency and connect physical and derivatives markets within the Asian time zone [4]