Business Standard

NSE bullion derivatives settlement on blockchain may be a game changer

Platform will be extended to spot gold exchange

NSE, stock market
Premium

Rajesh Bhayani Mumbai
In a first for India, bullion derivatives contracts will be settled on a blockchain platform. This will help in global acceptance of gold refined by Indian bullion refineries, giving a fillip to the local industry, exports, as well as investments.

From November 1, the National Stock Exchange (NSE) will accept gold delivery only on the blockchain platform. The NSE, in collaboration with Bengaluru-based start-up Chainflux, launched the NSE-Shine project last Wednesday. The exchange was working on the project for almost a year, along with India Gold Policy Centre at the Indian Institute of Management Ahmedabad (IIMA) and the India Bullion

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 17 2021 | 6:40 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com