Tradewind provides supply chain “provenance” in precious metals

Tradewind Markets, a financial technology company enabling physical assets to be settled and mobilized through digitization, has launched Tradewind ORIGINS, its provenance management application.

The new functionality, accessible through Tradewind’s existing product suite, provides supply chain provenance to parties involved in the sale and purchase of precious metals. The solution integrates seamlessly with Tradewind’s existing VaultChain™ products, presenting vital information on precious metal throughout the supply chain, including the name and geography of the mine where the metal was produced. Tradewind designed ORIGINS in consultation with major industry participants, including the Royal Canadian Mint and publicly listed mining companies.

Michael Albanese, Chief Executive Officer of Tradewind Markets, said: “We have worked at length with the industry’s major players and our network of partners to build a provenance application that unlocks the latent value of precious metals by delivering meaningful data on how, when, and where the assets were sourced. Tradewind is working to establish best practices and ethical sourcing of materials, and we’re setting a standard for innovation within physical and alternative asset classes using blockchain.”

Tradewind ORIGINS enables producers to differentiate their metal without requiring market participants to introduce expensive changes to operational and manufacturing processes. As economic, social, and governance (ESG) standards for precious metal miners become increasingly important and investors make more decisions based on ESG performance, Tradewind ORIGINS serves a vital purpose for the market. ORIGINS synthesizes large amounts of data to provide market participants with the tools they need to make better-informed business decisions.

Ben Lam, Treasurer at Agnico Eagle Mines, commented: “As a major global producer, Agnico Eagle enthusiastically supports innovations that enable market participants to engage in precious metals markets while adhering to social and environmental best practices. We want to ensure that transparency is met from stage one, and Tradewind ORIGINS represents an important step in this direction, providing our customers and stakeholders with a platform to confirm the quality and source of our goods.”

Using the Tradewind platform, the Royal Canadian Mint accepts the delivery of metal sent from suppliers, approve or rejects the provided ORIGINS information, and registers the metal on the Tradewind Platform. Market participants who buy and sell on the Tradewind platform can assure themselves that supplier and refiner alike adhere to industry standards, including those advanced by the London Bullion Market Association (LBMA) and the World Gold Council.