Emergent Technology Holdings LP and Valcambi enter into licensing agreement to track responsibly sourced gold
SANTA CLARA, Calif., June 14, 2018 /PRNewswire/ -- Emergent Technology Holdings LP ("Emergent") announced today it has entered into an agreement with Valcambi sa ("Valcambi") to license Emergent's Responsible Gold™ supply chain technology.
Valcambi is the first refiner to adopt Emergent's blockchain solution, which traces the provenance of conflict-free gold from mines, to refineries, and through to vaults. Gold supply chain participants use Emergent's mobile application to scan chips in tamper-proof seals ("cryptoseals") to record transfer of custody and provenance.
"Producing refined gold that is responsibly sourced is vital to the sustainable success of our business and our industry. As we make every effort to ensure the integrity of our supply chain, we place high value on technologies that automate and strengthen the sourcing process. The use of Emergent's technology will further increase our supply chain transparency and traceability, which are Valcambi's priorities," said Michael Mesaric, Valcambi's CEO.
Emergent's platform provides refiners with the highest assurance that gold leaving a mine is the same gold that arrives at their refineries. The immutable and irrefutable system collects data for each lot of gold-bearing material that is refined.
In an industry first, Valcambi is adding Emergent's technology to its more conventional sourcing process to provide information and assurance on the provenance of the gold it manufactures.
"We are absolutely delighted to be working with Valcambi on this project. Valcambi's reputation for integrity and position as the world's largest gold refiner confirms the value of Emergent's offering," said Matthew Keen, Emergent's Managing Director, Responsible Gold Trading. "We are witnessing increasing demand for responsibly sourced gold. Using our blockchain technology, permissioned participants can track gold origin and the chain of custody at any time. Our platform delivers a level of visibility and traceability never before experienced by the gold industry."
Valcambi Green Gold kilobars were used to produce Emergent's first 1000 G-Coin™ tokens in 2017. The digital tokens represent 100% ownership of, and title to, vaulted, responsibly sourced gold. G-Coin tokens are available now by invitation only and will be available to buy, sell, transfer or redeem for physical gold in Q3 2018.
For inquiries on the upcoming public release of G-Coin tokens, please email [email protected].
About Emergent Technology Holdings LP:
Based in Santa Clara, California, Emergent Technology Holdings LP owns and operates Emergent Payments®, the Responsible Gold™ platform and G-Coin™. The company operates in more than 60 high-growth markets across Asia-Pacific, Latin America, the Middle East and Africa. The company will launch G-Coin and the Responsible Gold supply chain in Q3 2018. The blockchain technology and smart contract platform traces responsibly sourced gold from mine, to refinery, to vault, and then digitizes that gold into secure G-Coin tokens for trade around the world.
About Valcambi sa:
Valcambi is a world leader in the refining of precious metals with more than 55 years experience. Based in Switzerland, Valcambi operates one of the world's largest and most efficient integrated precious metals plants, with an annual refining capacity of up to 2,000 metric tonnes. Valcambi refine gold, silver, platinum and palladium and offer a broad range of products and services of the highest quality. The company is committed to conduct activities in a responsible way, to drive industry best practices and to unlock development and growth opportunities. Valcambi is fully owned by Global Gold Refineries Ltd (GGR) incorporated which is owned by Rajesh Export Limited India.
Emergent Technology Holdings LP Media Contact: Lauren Dickson
+ 1 310 871 2172 / [email protected]
Valcambi Media Contact: Virginie Bahon
+ 41 (0)91 695 5324 / [email protected]
SOURCE Emergent Technology Holdings LP