LBMA (London Bullion Market Association) is delighted to announce the launch of its Gold Bar Integrity (GBI) Database powered by aXedras, marking a significant milestone in enhancing trust and transparency within the global precious metals market. The database went live this January, offering participants the opportunity to onboard and leverage this transformative digital platform. By end of 2025, we expect all 100+ Good Delivery refiners to be onboarded by aXedras, enabling enhanced reporting.
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The GBI Database represents a major step forward in modernising data collection and management processes across the precious metals value chain. It centralises and safeguards key data points, such as Responsible Sourcing deliverables and Country of Origin information whilst enabling refiners, custodians, and other stakeholders to seamlessly share this data with LBMA.
“The GBI Database will initially focus on two crucial datasets: Refiner Data and London Vault Data. This means faster, more secure data collection and processing. Beyond this, the platform’s ability to automate risk identification and flag potential issues quickly will play a vital role in enhancing confidence across the market,” said Ruth Crowell (CEO, LBMA).
Urs Röösli (CEO, aXedras) comments: “Over the years, we have worked alongside key players and LBMA to develop a solution that would further their commitment to enhancing trust across the industry. By leveraging our common team know-how and technology such as Distributed Ledger Technology (DLT), we have created the Gold Bar Integrity (GBI) Database that serves as a stepping-stone towards greater digitalisation.”
Many refiners have already been onboarded and are in a position to submit their data and assurance deliverables to the platform this year, reflecting the strong industry commitment to this initiative.
The GBI Database is part of LBMA’s broader Gold Bar Integrity Ecosystem, which integrates advanced technologies to strengthen the integrity and efficiency of the market while enabling a collaborative approach to future challenges.
If you have any questions or would like further information, please visit our dedicated GBI webpage or contact us at gbi@lbma.org.uk.