CME's gold market will launch based on a distributed ledger in mid-2017
The Chicago Mercantile Exchange and the
Royal Mint said they will launch a blockchain-based spot gold
offering called Royal Mint Gold in mid-2017 and are looking to
attract partners beyond institutional investors.
The Royal Mint will issue Royal Mint Gold
(RMG) as a digital record of ownership for gold stored at its
on-site bullion vault storage facility while the Chicago
Mercantile Exchange (CME) will operate the product's digital
"We're looking at launching in mid-2017,
but we are announcing now because we are looking to attract
parties to develop the offering, including investment
intermediaries that invest in gold or are looking to do so in
the future," said David Janczewski, director of new business at
The Royal Mint on a call on Tuesday. "We want to offer RMG to
the broadest audience possible, so it will not be limited to
institutional investors," he added.
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