Share this article
Euroclear Plans 2017 Launch for Blockchain Gold Market
Euroclear is planning to launch its blockchain-based gold trading platform later this year.
Updated Sep 11, 2021, 1:13 p.m. Published Apr 11, 2017, 3:32 p.m.
Clearing and settlement services firm Euroclear has expanded the scope of its blockchain-based gold trading platform project, eyeing a full launch for later this year.
Euroclear announced today that it completed the second stage of testing for its platform, developed in partnership with blockchain startup Paxos, with a group of 16 financial institutions including Citi, Scotiabank and Société Générale. More than 100,000 bullion settlement transactions were conducted over a two-day period, the firm said.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The pilot comes months after Euroclear announced the completion of the first phase, during which about 600 transactions were conducted. Euroclear first unveiled the platform in June.
According to the firm, the successful test paves the way for a full production launch sometime in late 2017.
Angus Scott, head of product strategy and innovation for Euroclear, said in a statement:
"We are encouraged by the extensive engagement of market participants in this second pilot and will continue as we further develop this new market infrastructure for the bullion market. The feedback provided is of great importance to make sure that our service will deliver real added value to the London bullion market through transparency, capital reduction and delivery versus payment settlement."
Euroclear isn't the only firm looking to bridge the worlds of blockchain and bullion.
In September, word emerged that the so-called "Flash Boys" behind the Investor's Exchange (IEX) were looking to develop a blockchain-based gold market. One of its backers later told CoinDesk that the group was looking to the tech to streamline data reporting and make the trading process more efficient.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Paxos.
Gold bars via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Holds Near $92K as Selling Cools, but Demand Still Lags
ETF inflows have finally turned positive, but weak on-chain activity, defensive derivatives positioning, and negative spot CVD show a market stabilizing without the conviction needed for a sustained move higher.
What to know:
- Bitcoin markets in Asia are stabilizing but remain structurally weak, with short-term holders dominating supply.
- U.S. ETF flows have shown signs of stabilization, but on-chain activity remains near cycle lows, indicating weak capital inflows.
- Bitcoin and Ether have seen price recoveries driven by spot demand and improved sentiment, while gold is supported by U.S. labor data and Fed rate cut expectations.
Top Stories
