{"id":21061,"date":"2019-12-16T21:43:18","date_gmt":"2019-12-16T20:43:18","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=21061"},"modified":"2019-12-16T21:43:18","modified_gmt":"2019-12-16T20:43:18","slug":"sibex-collaborates-with-paxos-in-a-venture-to-ease-physical-gold-trade-on-blockchain","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/sibex-collaborates-with-paxos-in-a-venture-to-ease-physical-gold-trade-on-blockchain\/","title":{"rendered":"SIBEX Collaborates with Paxos in a Venture to Ease Physical Gold Trade on Blockchain"},"content":{"rendered":"
SIBEX<\/a> <\/strong>has partnered up with Paxos<\/a> <\/strong>to improve gold trading experience. The partnership happened on the 6th of December in Zug, Switzerland- the base of SIBEX. The main purpose of the collaboration between the two service providers is to ensure the simplicity in the trade of physical gold on a blockchain.<\/p>\n SIBEX is the developer of peer to peer protocol that creates new arbitrage possibilities for institutional traders while trying to get rid of problems associated with over the counter (OTC) trading.<\/p>\n Paxos, on the other hand, is a company providing blockchain solutions for financial institutions and assets. The stablecoin issuer launched the PAX Gold (PAXG), a digital token representing one troy ounce of London Good Deliver gold stored in a London vault.<\/p>\n SIBEX recognized the difficulty in gold trade and has provided PAX Gold as a solution for investors. The PAXG will be available for all authorized SIBEX users.<\/p>\n <\/p>\n Daniel Haudenschild, SIBEX\u2019s CEO, has described Paxos as a regulated and established player in the financial space. He went on to comment that Paxos has been an instrument of democratization of the industry. With their combined interests, the two companies aim to reduce barriers to the digital assets space. The CEO stated the need to widen the scope of services offered to their users with gold investments being among that.<\/p>\n