Abaxx Launches First Gold Spot Trade

KUALA LUMPUR, April 29 (Bernama) -- Abaxx Technologies Inc (Abaxx) has announced the execution of the first trades on its Abaxx Spot Gold Pool, marking the operational debut of its physical gold marketplace.

In a statement, Abaxx said the transactions were completed between Velocity Trade and Kilo Capital.

The milestone advances Abaxx’s strategy to build an integrated commodities ecosystem through its subsidiary, Abaxx Singapore Pte Ltd, which owns Abaxx Commodity Exchange and Clearinghouse. The new spot platform complements its existing futures infrastructure, strengthening its presence in global metals trading.

Market participants highlighted the platform’s relevance as Singapore continues to position itself as a key hub for gold trading. Velocity Trade noted the platform’s potential to support evolving market structures, while Kilo Capital emphasised improved access to Asian liquidity through a centralised venue.

Abaxx Spot is designed to serve a broad range of physical market participants, including refiners, bullion dealers, jewellers, banks and family offices. The platform facilitates kilobar gold trading—the preferred format across Asian markets.

Located in Singapore, the platform provides global access to physical gold trading within a transparent framework. It is co-located with Abaxx’s Gold Singapore futures contracts.

The launch reflects growing demand for streamlined access to physical commodities markets, particularly in Asia, where fragmented bilateral trading relationships have historically posed challenges for international participants.

With its first trades completed, Abaxx positions the Spot Gold Pool as a foundational step toward expanding its commodities marketplace, aiming to enhance liquidity, transparency and cross-border participation in global gold markets.

-- BERNAMA