Gold Bar Integrity Ecosystem
The Gold Bar Integrity (GBI) Ecosystem aims to digitally trace gold as it moves through the global supply chain, confirming provenance and providing transparency over the value chain.
LBMA’s Role
Within this ecosystem, the LBMA plays two crucial roles:
1. Accrediting Security Features: These physical features establish the identity and verify the authenticity of a gold bar, akin to a bar passport. Find out more about our accredited security features and the application process.
2. Creating and Managing the GBI Database: This database is the key governance tool for the GBI ecosystem, enabling the wider infrastructure by being the point at which checks and balances are performed. The database promises enhanced clarity, security, and scalability in information-sharing, serving as a cornerstone for accurate and timely data flow. It will ensure that Refiners and custodians have access to a secure and efficient platform to share information with LBMA.
GBI Database
The GBI Database collects two sets of data: London Vault Holdings and Refiner data. This database makes the collection of the data more secure and increase the speed of receipt and review by LBMA. The ultimate goal is to achieve near “real-time” reporting in future developments of the GBI Database.
London Vault Holdings
LBMA publishes total vault holdings data as part of our ongoing efforts to enhance transparency in the Loco London precious metals market. Currently, this information is received via email, which poses risks to LBMA, custodians and their clients. In addition ensuring the security of this data, there have also been regulatory requests for independent verification of bar data – particularly in light of recent sanctions. This initiative aims to improve market governance by establishing a central point for checks and balances, thereby ensuring gold and silver bar integrity across the industry.
Refiner Data
In accordance with the GDL Rules and the LBMA Responsible Sourcing Programme, all GDL Refiners are required to submit data and Assurance Deliverables to LBMA, which prior to the GBI launch was sent via email. This posed significant risk and delays, which we aimed to reduce by digitising the process and introducing more robust checks and data validation criteria. As of the start of 2026, 100% of Good Delivery Refiners are now using the GBI Database to upload data and Assurance Deliverables.
GBI Timeline
- LBMA will require mandatory reporting, where all GDL Refiners must report their CoO data on a monthly basis.
- Intent to move to bar level reporting for Custodians.
- From April 2026 the periodic reporting capability will be live within GBI, and all GDL Refiners can begin to voluntarily report their CoO data into the GBI Platform. Periodic reporting will be cumulative, for example, if a Refiner submits data in January, they report one month; if they submit in March, they report all three months (January–March).
- From March 2026 Approved Assurance Providers (AAPs) will submit all required documentation into GBI for current GDL Refiners. The AAP Toolkit files (Assurance Templates and QCTs) are available for download from the LBMA website. These updates will support AAPs to make timely and accurate submissions for the Assurance Engagements they have conducted and maintain the integrity of the Responsible Sourcing Programme.
- December 2026 all Custodians will be onboarded and reporting aggregated vault holdings.
- LBMA launches the GBI database
- 100% of GDL Refiners onboarded by year end; Refiners begin to report their CoO data annually
- LBMA launches Disclosure Guidance v3 (DG3) and aligned High Risk Supplier template.
aXedras
Since its appointment in March 2024, aXedras has built and developed LBMA’s GBI Database, providing technical support to users.
Founded in 2018 and headquartered in Zug, Switzerland, aXedras is an independent information technology provider. Its goal is to take the precious metal industry to the next level of digitalisation through one secure digital supply chain solution: the distributed ledger technology (DLT)-based Bullion Integrity Ledger. This member-based ecosystem ensures efficiency, integrity, traceability, and confidentiality of data and business transactions. Learn more at www.axedras.com.