Editor’s Note
This article outlines a collaborative effort to bring greater transparency and technological verification to the gold supply chain, with the goal of setting a new global standard for responsible sourcing.
SMX (Security Matters) PLC announced a joint initiative with FinGo and Bougainville Refinery Ltd. (BRL) to evaluate a combined technological framework aimed at authenticating the gold supply chain, from the mine and miner to the refinery and export. The initiative reflects a shared goal of establishing Bougainville as a global benchmark for transparent, responsible, and technology-supported gold trade, demonstrating how advanced digital authentication and identity infrastructure can be integrated nationally into the supply chain. The parties will evaluate the implementation of an integrated material and human verification platform designed to provide traceability, auditability, and transparency across the entire gold value chain.
It combines SMX’s molecular gold authentication, FinGo’s biometric digital identity and KYC/AML infrastructure, and BRL’s operational, compliance, and export capabilities as a licensed gold refinery and supply chain operator. The joint initiative addresses a challenge in global precious metals markets: the ability to reliably authenticate both physical gold and the individuals handling it in a manner that meets applicable regulatory, compliance, and ESG requirements. SMX’s patented technology allows gold to be authenticated invisibly and permanently at the material level, creating a secure physical-digital link that remains intact during refining and subsequent processing.
This material identity is anchored to a tamper-resistant digital ledger, enabling continuous verification, auditability, and provenance assurance. FinGo complements this capability with its Human Identity-as-a-Service (HIDaaS) platform, which provides biometric identity verification, KYC/AML alignment, and secure authorization for individuals operating in the supply chain, from miners and aggregators to refinery staff and export counterparts. This is designed to enable actions, custody changes, and transactions to be confidently attributed to verified individuals, even in remote environments or with limited infrastructure.
Bougainville Refinery Ltd. brings established refinery operations, export workflows, and regulatory compliance processes to the initiative. BRL’s role is to operationally integrate SMX and FinGo technologies into real-world gold sourcing, refining, and export environments, aiming to strengthen custody chain integrity while supporting robust AML, KYC, and responsible sourcing standards. SMX views the joint initiative as aligned with both the Bougainville Government’s stated commitment to responsible resource management and the use of advanced technologies to enhance transparency, trust, and economic participation in the gold value chain, and with demonstrating how public-private partnerships can integrate next-generation compliance and traceability infrastructure directly into national supply chain operations.
Collectively, the initiative has been designed to evaluate how an integrated framework can enhance: end-to-end provenance and custody chain assurance from mine to export; alignment with international KYC/AML standards, responsible sourcing, and ESG; digitized and auditable compliance records for regulators, counterparts, and financiers; and the reduction of reliance on manual and paper-based processes.
The initiative is aligned with the direction set by major global gold market bodies, including the London Bullion Market Association (LBMA), the Dubai Multi Commodities Centre (DMCC), and the World Gold Council, to advance transparency, responsible sourcing, and robust custody chain expectations in international precious metals markets. As regulators, refineries, and market participants face requirements to demonstrate compliance with responsible gold guidelines, AML/KYC obligations, and ESG frameworks, the initiative is designed to evaluate how physical-digital authentication and biometric identity infrastructure can act as practical and scalable enablers of these global standards.