Connect with us

Technology

THE ROYAL CANADIAN MINT TRANSFORMS ITS GOLD REFINING WITH NEW DISTRIBUTED LEDGER TECHNOLOGY SOLUTION THAT TRACES METAL FROM MINE TO VAULT

Published

3 years ago

on

OTTAWA, ON, March 4, 2024 /PRNewswire/ — As a London Good Delivery refiner dedicated to continually improving the accountability and transparency of its precious metal sourcing, the Royal Canadian Mint (the Mint) has implemented a Distributed Ledger Technology (DLT) solution that now makes it possible to perform end-to-end tracing and certify the provenance of gold deposited and processed at its refinery. This solution has been applied in collaboration with aXedras.

This integration of DLT allows investors, financial institutions, dealers and distributors of Mint bullion products, as well as fabricators, to access secure, standardized and digitalized information about the provenance, and integrity of the production standards related to their products. Mines, recyclers and other precious metals suppliers whose material is refined by the Mint will benefit from numerous business‑to‑business process enhancements, such as seamless immutable data transfer, easy access to reports, audits and more.

“By innovating with Distributed Ledger Technology in our world-class refinery, we can now offer our customers end-to-end sourcing transparency, in addition to the industry-leading purity, quality and security of the gold we refine and of the bullion we produce,” said Marie Lemay, President and CEO of the Royal Canadian Mint.

The Mint is leveraging aXedras’ Bullion Integrity Ledger™ solution to further enhance its focus on being best-in-class for its supply chain and partner management and will help to provide an additional layer of assurance and transparency to the refinery’s operations, reinforcing the Mint’s reputation as a precious metal industry leader.

This platform will give Mint refinery customers the ability to demonstrate transparency and trust, giving their buyers more confidence in the history and provenance of their products.  It also helps the Mint support industry-wide efforts to improve transparency at every level of the bullion supply chain, which strengthens the integrity of the markets we serve.

There are two key aspects to the type and scope of data captured by DLT:

Transfer/Ownership Custody:DLT will record the transaction history of both incoming material and also gold bullion bar products. Simply put, whomever has custody/ownership of the gold bar will have the ability to see the bar’s custody history (e.g., Mint, financial institution, armoured car carrier, or London Vault).DLT will log the transfer and ownership of a gold bullion bar. This could be the initial purchase from one RCM client to another (such as banks selling bars to one another) or subsequent changes of ownership, as one entity sells the bar onto another entity. The owner of the bar will be able to see both the historical custody and ownership changes.

Refinery Transformation (when the Mint processes the gold from rough deposit to Refinery outturn):DLT allows the Mint to attach a provenance record to each gold bullion bar to enable the owner of the bar to view the origin of the gold within the bar. This could be responsibly sourced gold of a specific origin, such as a single mine, Canadian-mined gold, recycled gold, or co-mingled gold that includes the blending of responsibly sourced gold, internal recycled material recovered as part of the normal refining process, such as re-used anodes and residual gold cleaned from refinery processes.

Parties registered as platform users, such as refining clients, armoured car carriers/logistic providers, financial institutions, and bullion distributors and dealers, will be able to access this data directly.

About the Royal Canadian Mint
The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada’s circulation coins. The Mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada’s prestigious military and civilian honours. 

As an established London and COMEX Good Delivery refiner, the Mint also offers a full spectrum of best-in-class gold and silver refining services.  As an organization that strives to take better care of the environment, to cultivate safe and inclusive workplaces and to make a positive impact on the communities where it operates, the Mint integrates environmental, social and governance practices in every aspect of its operations.  

For more information on the Mint, its products and services, visit www.mint.ca.  Follow the Mint on LinkedIn, Facebook and Instagram.

For more information, media are asked to contact: Alex Reeves, Senior Manager, Public Affairs, Telephone: 613-884-6370, reeves@mint.ca

SOURCE Royal Canadian Mint (RCM)

Related Topics:
Continue Reading

Technology

Crab2B Makes AsiaWorld-Expo Debut, Connecting Hong Kong’s Mobile Wholesalers with Global Buyers

Published

1 hour ago

on

October 18, 2026

By

HONG KONG, Oct. 18, 2026 /PRNewswire/ — Crab2B, a pioneering B2B trading platform dedicated to mobile devices and digital products, will make its debut at the HKICEC Global Mobile Exchange Pavilion during the Global Sources Hong Kong Shows, opening at AsiaWorld-Expo on October 18, 2026.

Hong Kong has long been a major hub for electronics wholesale trade, but buyers still often rely on fragmented channels to identify suppliers. Crab2B was created to bridge this gap, bringing Hong Kong-based mobile and digital product wholesalers together on one dedicated B2B platform. Headquartered in Hong Kong, Crab2B combines the manufacturing strength of mainland China and the Greater Bay Area’s extensive supply chain capabilities with Hong Kong’s established global trading network. Together, these strengths enable Crab2B to simplify cross-border sourcing, connect buyers directly with suppliers and make international trade more accessible and efficient.

For its first appearance at a major industry trade show, Crab2B is bringing together more than 200 merchants already registered on the platform, marking a significant milestone in its development. The Crab2B booth is expected to attract electronics traders from Southeast Asia, Europe, the Middle East and beyond. Visitors will be able to discover the app’s capabilities through live demonstrations, register on the platform and connect directly with participating merchants to explore business opportunities.

A buyer who experienced the Crab2B app shared: “With Crab2B, we no longer have to search far and wide for reliable suppliers. The platform brings Hong Kong’s mobile phone wholesalers together in one place, giving us greater visibility into available products and sourcing opportunities. Whether I’m at my desk or on the move, I can find products and connect with suppliers whenever I need to. For businesses like ours that source across borders, that kind of access makes a real difference. It saves time, reduces transaction costs and helps us do business more efficiently.”

Crab2B CEO Luo Yaohong said, “We want to be pioneers in cross-border B2B trading for digital products, creating new opportunities for Hong Kong’s wholesale industry. As Hong Kong places greater emphasis on developing digital trade, we’re addressing a longstanding gap in the market with a dedicated digital platform that connects Hong Kong’s electronics suppliers directly with buyers around the world. Our ambition is to make cross-border trading easier, faster and more accessible, while helping Hong Kong businesses reach new markets.”

The platform’s trade show debut is also attracting attention from international merchants, with exhibitors expressing interest in joining Crab2B to expand their reach into overseas markets. Meanwhile, merchants already registered on the platform are looking forward to the launch of its planned online marketplace, which will create further opportunities for sustained collaboration and business growth.

Building on this debut, Crab2B will remain firmly rooted in Hong Kong while expanding its connections with businesses around the world. The company will continue to enhance its platform with smarter sourcing tools, more comprehensive trading capabilities and an increasingly connected network of suppliers and buyers. By making it easier to discover products, establish business relationships and conduct cross-border transactions, Crab2B aims to open new opportunities for merchants of all sizes and help shape the next chapter of Hong Kong’s digital trade industry.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/crab2b-makes-asiaworld-expo-debut-connecting-hong-kongs-mobile-wholesalers-with-global-buyers-302911938.html

SOURCE Crab2B

Continue Reading

Technology

Canton Fair Buyers Alliance Launched as the 140th Edition Opens

Published

5 hours ago

on

October 18, 2026

By

GUANGZHOU, China, Oct. 17, 2026 /PRNewswire/ — On October 15, the Canton Fair Buyers Alliance was officially launched at the Canton Fair Complex, marking a significant milestone as the fair celebrates the 70th anniversary of its founding.

More than 140 overseas buyers attended the launch ceremony, highlighting the fair’s enduring role as a bridge connecting global commerce with China’s export sector.

Speaking at the ceremony, Luís Vilariça, CEO of Joinco, Import & Export, Ltd., discussed his company’s long-standing relationship with the Canton Fair. Drawing on years of participation, he reflected on the growth opportunities created through cooperation with Chinese suppliers and highlighted the fair’s role in supporting international business development and global trade exchanges.

The ceremony also featured a joint declaration by alliance members. Representatives from five member companies read the statement in their respective native languages, underscoring the international character of the new organization. Additional members sent video congratulatory messages, joining the celebration and witnessing the official launch of the alliance.

The Canton Fair Buyers Alliance represents one of the fair’s key service innovations. Designed primarily for Fortune Global 500 companies, buyers from the world’s top 250 retailers and leading sourcing enterprises across a diverse range of markets, the alliance aims to offer members a platform for information sharing and resource coordination. The first cohort of alliance members includes 58 companies from 32 countries and regions across 5 continents. Through the alliance, members will gain access to a range of priority benefits spanning four major areas: services, events, resources and information.

 For more convenient attendance, please click here for pre-registration:

https://buyer.cantonfair.org.cn/register/buyer/email?source_type=16

View original content to download multimedia:https://www.prnewswire.com/news-releases/canton-fair-buyers-alliance-launched-as-the-140th-edition-opens-302911896.html

SOURCE Canton Fair

Continue Reading

Technology

Bioethanol from human hair – Indian start-up’s solution to rising prices of grains and sugar

Published

6 hours ago

on

October 18, 2026

By

GUJARAT, India, Oct. 17, 2026 /PRNewswire/ — In what could be called the beginning of the 5G (fifth-generation) of bioethanol or non-cellulosic bioethanol or non-sugar-based biofuels, an Indian start-up, Techofest Global, based out of Gujarat, has developed its own, indigenous, and patented technology for the production of bioethanol from waste human hair. Such processes would significantly reduce the employment of sugars, grains, and agricultural residues, which form the classical first- and second-generation bioethanol feedstocks. As a result, the rising fuel-vs.-food/fodder debate is anticipated to reduce, and instead, ethanol produced from municipal/industrial waste, after trials, can supplement the current supply being used as blends with presently retailed fossil fuels (E20, E27, etc.). 

As stated by Dr. Ravi, the founder-CEO of Techofest Global, the strategic priority and the USP of the start-up is industrial symbiosis, which, typically, involves an ecosystem of up-cycling/valorising the effluents of an industry, thereby creating a value-chain for residues often lacking an end-of-life. With more than three decades of experience in designing customized nuclear fusion reactors for international programmes, such as ITER, JET/UKAEA and SST-1, Dr. Ravi, a seasoned mechanical engineer, spearheads the start-up’s patented technologies’ scale-up and commercialization.

Two biochemical engineers, Dr. Navnit – the former CTO, and Dr. Kabilan – the former CEO of Biomakerz, Chennai, are the brains behind the current technology/process portfolio of the joint-venture between Techofest Global and Biomakerz. They have been working on biorefineries’ process intensification for more than a decade. “Having foreseen the fuel-vs-fodder/food competition as early as the year 2015, we began developing techno-economically feasible and viable in-vitro metabolically-engineered bioprocesses for scaling-up ethanol production from municipal waste streams between 2019–2021”, says Navnit. After developing operational technologies for international biofuel organizations, serving process engineer roles with certain biorefineries-related OMC R&D’s of India, Dr. Navnit, presently works for a premier academic institution.

An on-going fermentation trial at the Techofest Global-Biomakerz JV’s R&D facility

Techofest Global has developed and tested, in its R&D JV’s pilot-facility of ~100-L, 3 innovative and cost-effective technologies, such as 5G ethanol production using human hair, used cooking oil (UCO), and enriched bio-methane production from disposed sanitary napkins.

“With massive CapEx and OpEx, 2G ethanol technology is facing a major commercialization bottleneck, owing to competition with food/livestock fodder, requirement of a cost-intensive pre-treatment procedure, and the requirement of cellulolytic cocktails, which have a poor recycle efficiency. The proprietary 5G SAFE process developed for the start-up circumvents the mentioned constraints, and instead, utilizes a single-stage saccharification followed by fermentation, and records over 85–90% biocatalyst recovery. Likewise, the proprietary SIM process for bio-methane production, exclusively developed for the start-up, is 2x faster with improved intermittent feeding cycles and continuous gas harvest”, says Navnit.

“With on-going pre-commercialization trials, the proprietary ethanol and bio-methane processes of ours are soon being commercialized”, says Ms. Bhumika, the co-founder and the corporate advisor of the start-up. Furthermore, Mr. Ronak pilots the organization’s global market entry and commercialization frontier.

Techofest Global’s veteran Principal Technology Advisors include: Dr VS Tripathi, former Joint Director, DRDE Gwalior, Dr B S Munjal, former Director, Structures and Thermal group, SAC/ISRO, Academician and Advisor CIKS-Dharohar, GTU, and Dr AV Santhanababu, former Scientist at Satish Dhawan Space Centre. With on-going R&D activities, Dr. Munjal says, “the start-up is striving to provide a unique solution along the lines of the Atmanirbhar and Viksit Bharat Vision 2047”.

Media Contact: www.techofestglobal.com; e-mail: info@techofestglobal.com; contact person: The PR team of Techofest Global.

Photo: https://mmx.prnewswire.com/media/MS2015507/Picture1.jpg?id=OA3024965&token=5vT9XuZXAG0yamsZlRrsBAiUapaplm73wYH8NIfU0xCtOlj76dueXcTw2Eb-3w

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/bioethanol-from-human-hair–indian-start-ups-solution-to-rising-prices-of-grains-and-sugar-302911813.html

Continue Reading

Trending