[2017-04-12] ToI: CME Group, UK’s Royal Mint test blockchain-based gold trading

CME Group, UK’s Royal Mint test blockchain-based gold trading platform

http://timesofindia.indiatimes.com/business/international-business/cme-group-uks-royal-mint-test-blockchain-based-gold-trading-platform/articleshow/58137496.cms

Chicago-based exchange CME Group Inc and Britain's Royal Mint have started testing a blockchain-based platform for trading gold, as more projects using the emerging technology come closer to deployment.

CME Group announced on Tuesday that the new platform, built with technology companies AlphaPoint and BitGo, was being tested by a select group of "major financial institutions," and is on schedule for launch this year.

The new platform will allow institutions to trade "Royal Mint Gold," or RMG, a new digital token issued by the Royal Mint, which makes Britain's coins.

Each RMG will represent the digitized version of 1 gram of gold stored in the Royal Mint's vault.