Ampersand Markets, which is creating a silver-based ecosystem around a new category of digital assets allowing buyers to own silver on the blockchain, announced the launch of the Ampersand Consortium.
Comprised of indispensable participants for delivering major functional components of the ecosystem, the Ampersand Consortium will provide the necessary infrastructure to explore the development of a new silver ecosystem and exchange.
Participants in the Ampersand Consortium include Zaner Metals, LLC, Ohansons LLC, DrawBridge Lending and leaders in the mining finance community based in Toronto. Ampersand Markets has also hired Handler Thayer, LLP and Manatt, Phelps & Phillips, LLP, as its legal and regulatory and compliance team. Together, these vendors, operators and advisors make it possible for Ampersand Markets to modernize mineral economics, allowing purchasers to enjoy the upside of the ecosystem and precious metals in a “hybrid” digital asset on the blockchain.
The Ampersand Consortium provides the infrastructure to support this hybrid digital asset, Ampersand’s Vaulted Silver Token (AXSI), which pairs a physical asset, in this case silver, with a digital right. As the ecosystem scales and demand for Ampersand’s hybrid tokens increases, consortium members will play a critical role in meeting demand for additional silver and other refined metals needed for tokenization. Additionally, consortium members will play a role in optimizing procurement costs, improving supply chain elements in the ecosystem including digital transfer and convenient global delivery.
Ampersand is also exploring the development of a blockchain-based hybrid mineral tokens exchange under the guidance of Manatt, Phelps & Phillips, LLP. If developed, the exchange would service the tokenization of in-ground mineral deposits and offer a venue on which Ampersand’s hybrid digital assets, including the AXSI tokens, would trade in a legally compliant manner.