Kuala lumpur: Abaxx Technologies Inc., a financial software and market infrastructure company and the indirect majority shareholder of Abaxx Singapore Pte Ltd., announced the execution of the first trades in the Abaxx Spot Gold Pool. The trades were carried out between Velocity Trade and Kilo Capital.

According to BERNAMA News Agency, Spencer Davey, Managing Director for the APAC region at Velocity Trade, expressed satisfaction with their participation in the initial physical gold spot trade on the Abaxx Spot platform. He highlighted Abaxx's platform as a compelling choice as the market continues to evolve. Davey also noted the broader efforts to establish Singapore as a trusted gold hub and conveyed Velocity Trade's eagerness to contribute to these developments.