Abaxx Singapore Joins SBMA, Boosts Physical Gold Trading

KUALA LUMPUR, March 19 (Bernama) -- Abaxx Technologies Inc (Abaxx), a financial software and market infrastructure company, announced its subsidiary, Abaxx Singapore Pte Ltd (Abaxx Singapore), has been accepted as a Local Associate Member of the Singapore Bullion Market Association (SBMA).

“Abaxx has anchored its integrated precious metals market infrastructure in Singapore to align with Asia’s physical trade.

“That approach is consistent with the direction SBMA has set for the next phase of market development, and we look forward to contributing to smarter precious metals markets,” said Abaxx Exchange Chief Executive Officer (CEO), Nancy Seah in a statement.

Meanwhile, SBMA CEO, Albert Cheng welcomed Abaxx Exchange, calling the newly launched Abaxx Gold Singapore futures contract a timely addition to Asia’s gold market infrastructure.

Cheng highlighted that the contract seeks to establish a Singapore-based, kilobar-native, physically deliverable benchmark, supported by modernised title and transfer mechanisms.

The SBMA is a non-profit, member-driven industry body that represents key participants across the precious metals value chain, underpinning Singapore’s position as a regional hub for physical gold trading and custody across the Asia-Pacific.

This membership highlights Abaxx’s increasing involvement in the physical gold market, coinciding with growing participation in the Abaxx Exchange’s kilobar futures contract, deliverable into Singapore.

Abaxx is leveraging its co-located spot and futures infrastructure to establish a direct access point for the kilobar market, enabling the next phase of market expansion as the region solidifies its role in global gold trading.

In a recent pilot, the company demonstrated the mobilisation of physical gold as collateral within existing market structures, enabling T+0 ownership transfer to support financing against vaulted inventory.

The transaction illustrates how Abaxx Digital Title can be applied to vaulted gold to address inefficiencies in a US$47 billion segment of gold trade finance, aligning with SBMA’s focus on deepening Singapore’s leadership in bullion services. (US$1=RM3.93)

-- BERNAMA