Abaxx Technologies to Launch Gold Kilobar Futures and Trading Platform in Singapore

Abaxx Technologies Inc ( (TSE:ABXX) ) has issued an announcement.

Abaxx Technologies Inc. announced the launch of Singapore Gold Kilobar Futures and a physically-allocated gold trading platform, Abaxx Spot, set for June 12, 2025. These initiatives aim to enhance the gold market infrastructure by aligning futures with Asia’s physical bullion trade practices and providing a globally accessible benchmark for price discovery and hedging. The introduction of Abaxx Spot will facilitate secure physical trading and efficient OTC transfer of kilobars, aiming to integrate and improve gold market infrastructure, thus impacting the company’s operations and positioning in the precious metals market.

Spark’s Take on TSE:ABXX Stock

According to Spark, TipRanks’ AI Analyst, TSE:ABXX is a Neutral.

Abaxx Technologies Inc. has strong revenue growth and a solid balance sheet, but it remains unprofitable with negative cash flow, significantly impacting its financial performance score. Technical analysis points to a stable stock price without significant upward momentum. Valuation metrics are poor due to negative profitability. However, strategic corporate events positively influence the overall score by enhancing financial stability and market potential.

To see Spark’s full report on TSE:ABXX stock, click here.

More about Abaxx Technologies Inc

Abaxx Technologies Inc. is a financial software and market infrastructure company that develops and deploys financial technologies to facilitate communication, trade, and transactions. It is the indirect majority shareholder of Abaxx Singapore Pte Ltd., which owns the Abaxx Commodity Exchange and Clearinghouse, and the parent company of Abaxx Spot Pte. Ltd. Abaxx focuses on creating Smarter Markets with better tools and benchmarks to address societal challenges, including the energy transition, through centrally-cleared, physically-deliverable futures contracts in various commodities.

Average Trading Volume: 193,538

Technical Sentiment Signal: Buy

Current Market Cap: C$61.56M

For a thorough assessment of ABXX stock, go to TipRanks’ Stock Analysis page.