Summary by Moomoo AI
SMX (Security Matters) PLC, a leader in digitizing physical objects for a circular economy, has announced a strategic partnership with Brink's to revolutionize the gold market. This collaboration, announced on May 13, 2024, aims to bring transparency, trust, and efficiency to the gold market ecosystem by leveraging SMX's technology and Brink's secure logistics expertise. The partnership will focus on enhancing gold marking, auditing, and storage in Dubai, with the goal of setting new standards for the market. The trueGold Consortium, a subsidiary of SMX, will be instrumental in implementing the technology for gold market operations in Dubai. The joint service is expected to commence in Q3 2024. The formal launch event took place at DMCC's headquarters in Dubai, with key stakeholders from SMX, DMCC, and Brink's in attendance. Additionally, SMX is establishing a subsidiary, 'SMX GCC Sustainability and Circular Economy', to support the collaboration and promote sustainability in the region's gold market.