Trovio, is a commodity digitisation and registry service and technology partner to The Perth Mint. Its also an exclusive commodities provider to the Universal Protocol Alliance.
Trovio has announced that they have established a foothold in Singapore as the region proves itself as an important focal point for gold trading in the ASEAN region.
Why is Trovio creating foothold in Singapore
Singapore has already cemented its reputation as a stable financial centre and has taken steps to position itself as a bullion hub, exempting investment-grade gold, silver and platinum from a goods and services tax.
Furthermore, 80% of the world’s top 100 tech firms have a regional headquarter in the country, according to the Economic Development Board (EDB) of Singapore. A notable few include industry giants Google, Alibaba, Grab, SEA, and PayPal.
In establishing their regional office in Singapore, Trovio recently became the first fintech company to be welcomed into the Singapore Bullion Market Association (SBMA), as the gold industry looks to leverage the new methods and technologies offered by digitisation.
Trovio’s vision is to improve the efficiency and transparency of the global commodities market.
Trovio enables its partners to access new markets, develop new distribution channels such as blockchain, and offer investment products that meet the ESG needs of the modern investor.
Trovio is launching Carbon-Neutral Gold ETF
Trovio has also announced that they are launching the world’s first carbon-neutral gold ETF on the Australian Stock Exchange (ASX).
“The global precious metals industry is making huge strides in working to both understand its carbon footprint and ensure that the physical metal is responsibly sourced.”
“Joining the SBMA is apt for Trovio as we are committed to provide our partners with technologies that enable new digital market pathways, traceability on supply, and access to an increasing suite of sustainable precious metals products,” Jon Deane, CEO of Trovio, said.
Trovio has also recently joined the Singapore Fintech Association (SFA), whose membership had swelled from 350 groups in March to 780 as of September 2020.
The fintech community in Singapore has grown rapidly over the past 5 years, with traditional financial institutions adopting financial technology as a means to innovate and transform.
Trovio is leveraging Singapore as a launchpad into the rest of Southeast Asia – providing an opportunity to access more than 650m people in the region.
With China’s largest technology and financial services companies recently stepping up efforts to expand into Singapore, the Asian finance hub has become crucial for international growth and access to the Shanghai Gold Exchange (SGE) – the largest purely physical gold spot exchange in the world.
“As Singapore’s fintech ecosystem continues to grow and mature, Trovio strives to collaborate with strong ecosystem players to empower our community and vision, in deploying new technology solutions for the next generation and the quickly evolving investment landscape with regards to ESG and market access,” added Deane.
