NEW YORK--(BUSINESS WIRE)--Tradewind™, a financial technology company, announced the closing of a $10.6 million strategic placement today. Led by investments from Agnico Eagle (TSX/NYSE: AEM), IAMGOLD (TSX: IMG, NYSE: IAG) and Wheaton Precious Metals (TSX/NYSE: WPM), the fundraising round also included existing investors Goldcorp (TSX: G, NYSE: GG) and Sprott (TSX: SII), and new investor Sapphire Ventures.
Officially launched on March 23rd, 2018, the Tradewind platform integrates world-class exchange technology with the tailored blockchain application VaultChain™ to facilitate the trading, settlement and ownership of physical gold. The revolutionary platform securely digitizes vaulted precious metals for the first time, removing structural and frictional limitations from the physical gold market.
“This strategic placement, led by producers, reflects the rapidly evolving landscape for trading precious metals and demonstrates growing support for the Tradewind platform as the leading solution for the industry,” said Fraser Buchan, co-founder of Tradewind. “We’re excited to work with our shareholders and partners to continue driving innovation and positive change.”
The new capital will fund the expansion of the Tradewind platform and distribution network for VaultChain Gold™ into international markets including Europe and Asia, while also extending platform functionality to support new initiatives and applications such as provenance and supply chain management.
Tradewind has raised a total $22.8 million in capital since inception. The Company’s existing investors also include IEX Ventures.
Tradewind has built a technology platform for digitizing the trading, settlement, and ownership of precious metals. The Tradewind solution combines world-class exchange technology with Vaultchain™, Tradewind’s blockchain technology tailored for precious metals. Tradewind was formed in 2016 and is managed by a team of professionals with extensive experience in electronic trading, market structure, gold investment management, market operations, cryptography and blockchain technology. For more information please visit https://tradewindmarkets.com/.