Share this article
Euroclear and Paxos End Blockchain Gold Settlement Partnership
The partnership between blockchain startup Paxos and Europe's largest settlement service has ended.
By Wolfie Zhao
Updated Sep 13, 2021, 6:46 a.m. Published Jul 28, 2017, 3:35 p.m.
In this article
The partnership between blockchain startup Paxos and Europe's largest settlement service has ended.
Euroclear and Paxos, as previously reported, were developing a blockchain-based platform for settling gold trades. The collaboration aimed at putting in place new infrastructure for London's gold market. It's a use case that other institutions, including the UK's Royal Mint, is also moving toward.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Yet according to Reuters, that partnership has come to an end, though the exact reasons aren't immediately clear. A spokesperson for Paxos confirmed the end of the tie-up when reached by CoinDesk.
"Euroclear and Paxos have agreed to stop discussions on forming a joint-venture," a representative for Euroclear said in an email.
At the same time, both Paxos and Euroclear intend to move forward with bullion trading solutions based on the tech.
The Paxos rep said that the startup plans to debut the solution by 2018. In an interview with Reuters, a representative for Euroclear said that the service "remains committed to offering a solution to the London bullion market."
The project was first unveiled more than a year ago. Months after its reveal, the prototype platform was put to the test by a group of banks and financial institutions, with hundreds of trades being conducted between participating parties.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Paxos.
Broken chain image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin shorts scramble for the exits as BTC climbs
Bitcoin surged from an intraday low near $86,200 to reclaim $90,000, driven by aggressive spot buying and a wave of short liquidations.
What to know:
- Over $110 million in bitcoin short positions were liquidated in the past hour, according to Coinglass alongside a muted rise in open interest
- The action points to spot-driven demand rather than leveraged bets driving BTC's surge to $90,000.
- Bitcoin’s cumulative volume delta jumped 1,100% during the rally, signaling aggressive buying pressure not seen since early December.
- Global Macro Investor’s Julien Bittel says an "oversold" RSI reading supports a prolonged bull market, arguing the traditional four-year cycle has broken down as bitcoin dominance climbs toward 60%.
Top Stories
