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Abaxx to Launch Singapore Gold Kilobar Futures and Physically-Allocated Gold Pool on June 12, 2025
TORONTO, May 13, 2025 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) ( ...
About this update from Abaxx Technologies Inc
[{"type":"text","content":"Abaxx to Launch Singapore Gold Kilobar Futures and Physically-Allocated Gold Pool on June 12, 2025\n\n\n\n TORONTO, May 13, 2025 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (CBOE:ABXX)(OTCQX:ABXXF) (“\n \n Abaxx\n \n ” or the “\n \n Company\n \n ”), a financial software and market infrastructure company, indirect majority shareholder of Abaxx Singapore Pte Ltd. (“\n \n Abaxx Singapore\n \n ”), the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “\n \n Abaxx Exchange\n \n ” and “\n \n Abaxx Clearing\n \n ”), and producer of the SmarterMarkets™ Podcast, today announced that it will be expanding its product suite to include precious metals with the launch of Gold kilobar futures on June 12, 2025.\n \n\n Abaxx Singapore Gold Futures are purpose-built for the needs of Asia’s physical bullion trade, reflecting the region’s preferred kilobar format and supporting more accurate pricing by aligning futures settlement with physical market practices. The contract is designed to provide a globally accessible, regionally anchored benchmark that supports effective price discovery, reliable hedging, and physical delivery in one of the world’s leading gold trading hubs. Abaxx’s Gold Singapore Futures contract is a US dollar-denominated, kilobar-sized, physically-deliverable product, with delivery into approved vaults in Singapore.\n \n\n “Gold is one of the few assets trusted across all borders, yet its market infrastructure hasn’t kept pace with how and where it’s traded,” said Abaxx Founder, Josh Crumb. “By aligning physically-deliverable futures with the kilobar format and delivery location preferred by Asia’s bullion market, we’re eliminating structural mismatches that have long distorted pricing and impeded risk management. This contract reflects the way gold actually moves through the global system, and delivers the tools needed to hedge and settle accordingly.”\n \n\n\n Introducing Abaxx Spot\n \n\n\n Abaxx is also preparing to launch Abaxx Spot¹, a new physically-allocated (through the undivided interest structure) gold trading platform in Singapore. The platform is designed to align spot and futures gold markets in the same location, facilitate secure ph...