AlphaPoint, a digital asset trading technology, and exchange platform company today announced the official partnership with CME Group (CME) and The Royal Mint (TRM) to provide the digital asset trading platform for a historic gold trading initiative.
The CME electronic platform, powered by AlphaPoint will be used to trade RMG. The platform is currently in live testing with institutional traders. The Royal Mint Gold (RMG) blockchain and trading platform has entered live testing and is on track to launch later this year.
It was revealed that CME and TRM selected multi-sig pioneer and blockchain security company BitGo to help design and build the blockchain for RMG. BigGo has made the code available for review here.
AlphaPoint, as the architect of the CME RMG digital asset trading platform, will offer price discovery and liquidity for market participants, providing an on-ramp and off-ramp to RMG ownership.
This system leverages AlphaPoint’s distributed ledger platform, which enables financial institutions to digitize assets, launch markets, and manage asset lifecycles.
RMG will change the way gold is traded, executed, and settled by making it available for trading 365 days a year, with lower costs and a transparent ledger of ownership. RMG is a cryptographically-secured alternative to buying, holding, and trading spot gold.