EY Partners with Paxos on Blockchain Gold Settlement Service

Advisory firm will offer consulting services and help gold market participants with implementation of vendor's service.

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EY will provide Paxos services and consulting support and work with gold market participants to help with industry-wide implementation of the new service, which will sit on Bankchain, Paxos' blockchain settlement platform.

"Gold market participants are showing interest in exploring how innovation can deliver tangible benefits. We see solutions such as Paxos' Bankchain as being very relevant and timely," said David Williams, partner for capital markets innovation at EY, in a statement.

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