Global consultancy EY and New York blockchain startup Paxos have announced that they are co-developing new technology solutions for the gold market.
Aimed at providing new tools for the clearing and settlement of gold transactions, the partnership will see the two firms leveraging Paxos’ blockchain-based network, Bankchain, as a basis for the services.
David Williams, EY’s partner for capital markets innovation, said in a statement:
"We believe that the future of capital markets requires ever stronger and more innovative ecosystems, and expect this to be a key early example of the type of collaboration between FinTech firms and existing market participants that will truly transform the marketplace."
http://www.coindesk.com/gold-trading-blockchain-big-four-partnership/
