Velocity Trade and Kilo Capital Open Trading on Abaxx's Singapore Physical Gold Pool

Financial software and market infrastructure company Abaxx Technologies (CBOE: ABXX, OTCQX: ABXXF) has confirmed the first trades on its Singapore-based Abaxx Spot Gold Pool, executed between global execution and custody firm Velocity Trade and US-based commodity inventory financier Kilo Capital.

Abaxx Spot is a physically-backed gold pool aimed at refiners, bullion dealers, jewellers, banks and family offices seeking direct access to kilobar gold and associated inventory management. The venue is co-located with Abaxx Exchange's Gold Singapore futures contract, an arrangement intended to support price convergence between spot and futures and to underpin physical delivery into Abaxx's deliverable gold futures product.

Physical gold flows across Asia have historically been intermediated through a patchwork of bilateral relationships, with US, European and Asian counterparties navigating fragmented liquidity, format mismatches, and varying disclosure standards. Singapore has been steadily building out infrastructure to position itself as a regional gold hub, and a co-located spot and futures venue is a structurally significant addition: it brings physical inventory, electronic execution, and a centrally cleared futures benchmark into a single architecture.

For Velocity Trade, the trade extends an existing institutional footprint across FX, precious metals, equities and fixed income into a new physical execution channel. For Kilo Capital, which finances commodity inventories across precious metals, base metals, energy and agricultural commodities, the venue offers a route into Asian flows beyond its existing bilateral network.

Comments from the participants

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Abaxx Spot operates under Abaxx Spot Pte. Ltd., a registered dealer under Singapore's Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019, and is exempted from the requirement to hold a spot commodities broker licence under the Commodity Trading Act 1992. The entity is not regulated by the Monetary Authority of Singapore as a financial institution but operates within the PSPM Act framework.

Velocity Trade provides execution and custody services across OTC and exchange-listed markets, including FX and precious metals trading, settlement and prime of prime, with offices in twelve cities including Singapore, Dubai, London and Toronto.

Kilo Capital provides commodity inventory financing across precious metals, base metals, energy and agricultural commodities to mid-market and commercial enterprises, using tools including leasing, repo and bespoke pricing and supply agreements. Its affiliate Kilo Royalty Corp acquires royalties, streams and financings with commodity processors and supply chain operators.

Abaxx Technologies is the indirect majority shareholder of Abaxx Singapore, which owns Abaxx Exchange and Abaxx Clearing. Abaxx Exchange runs centrally-cleared futures contracts across LNG, carbon, battery materials, precious metals and weather-indexed renewables.

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