NEW
YORK and DUBAI, UAE,
May 13,
2024 /PRNewswire/ -- SMX (Security Matters) PLC
(NASDAQ:SMX; SMXWW), a pioneer in digitizing physical objects for a
circular economy and a provider of innovative technology solutions
for the commodities market, is pleased to announce a strategic
partnership with Brink's aimed at revolutionizing the gold market
landscape.
This groundbreaking collaboration brings together SMX's
state-of-the-art technology, Brink's renowned expertise in secure
logistics with a global network of operations, serving customers in
more than 100 countries. The partnership is poised to introduce
unparalleled transparency, trust, and efficiency to the gold market
ecosystem.
At the heart of the partnership lies SMX's revolutionary
technology, which will be deployed by Brink's to enhance various
aspects of gold marking, auditing, and storage. Leveraging SMX
technology, Brink's will ensure impartial marking and auditing of
gold in Dubai,
setting new standards for transparency and reliability in the
market.
The joint service offered by Brink's and SMX will be able to
elevate the reporting and quality assurance standards for gold
sourced, refined and vaulted in Dubai by companies operating both in
DMCC's free zone and in the whole Gulf Cooperation Council (GCC)
region. Furthermore, the collaboration is intended to extend
the benefits of SMX technology to empower market participants with
enhanced transparency and liquidity in gold financing.
trueGold Consortium, a majority-owned subsidiary of SMX holding
the exclusive SMX tech license for all gold applications, will play
a pivotal role in implementing the technology together with Brink's
for the gold market operations in Dubai. Additionally, the joint
service between SMX (via trueGold) and Brink's lab located in
Dubai will commence
during Q3, 2024
Ahmed Bin Sulayem, Executive
Chairman and CEO of DMCC, remarked, "The partnership between SMX
and Brink's would expand services for both members of DMCC's vast
ecosystem for precious metals, and external parties, supporting
their requirements for wider market access. We are excited to
have Brink's lead the implementation and seeing greater adoption
across the value chain."
Speaking about the partnership, Michel
Constain, Vice President, Africa and Middle
East, Brink's, commented, "We are excited to collaborate
with SMX in this transformative initiative. By leveraging Brink's
expertise in secure logistics and utilizing SMX's cutting-edge
technology in our state-of-the-art laboratory facility in
Dubai; we aim to set
new benchmarks for transparency and trust in the gold market for
our clients."
Hugh Morgan, Chairman of trueGold
Consortium, expressed optimism, stating, "As the Chairman of
trueGold Consortium, I am delighted to see the partnership between
SMX and Brink's come to fruition. This collaboration represents a
significant step forward in advancing technological innovation in
the gold market and underscores the commitment of all parties
involved to set new standards of transparency and trust."
The formal launch of the partnership between SMX and Brink's
took place on Tuesday 7 May 2024 at
DMCC's headquarters, Uptown Tower, in Dubai, marking a significant milestone
in the evolution of the gold market. Key stakeholders from SMX,
DMCC, and Brink's were in attendance, underscoring the collective
commitment to driving positive change in the industry.
Furthermore, SMX is in the process of establishing a subsidiary
named 'SMX GCC Sustainability and Circular Economy'. This entity
will serve as the regional operational arm for the collaboration
between Brink's, DMCC, and the GCC region, further solidifying the
commitment to sustainability and circular economy principles in the
gold market ecosystem.
Follow us through our social channel
@secmattersltd @smx.tech
About SMX
As global businesses face new and complex challenges relating to
carbon neutrality and meeting new governmental and regional
regulations and standards, SMX is able to offer players along the
value chain access to its marking, tracking, measuring and digital
platform technology to transition more successfully to a low-carbon
economy.
https://smx.tech/home
About DMCC
DMCC is a global trade powerhouse. Headquartered in
Dubai, DMCC is the
world's leading business hub and an international centre for trade,
commerce and innovation.
Established in 2002 with the mission of establishing
Dubai as a commodity
trading and enterprise gateway to the Middle East and beyond, DMCC has since grown
to become one of its most important economic drivers, today
accounting for 11% of all foreign direct investment in the
emirate.
Voted the number one free zone on the planet for 9 consecutive
years, DMCC is where the world does business.
https://dmcc.ae/
About Brink's
Brink's is a global leader in secure logistics and precious
metals services, trusted by businesses and financial institutions
worldwide for over 160 years. With a relentless commitment to
security and reliability, Brink's sets the standard for excellence
in the industry. For more information, please visit our
website:
https://brinksglobal.com/
Forward-Looking Statements
The information in this press release includes "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include, but are not
limited to, statements regarding expectations, hopes, beliefs,
intentions or strategies regarding the future. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "contemplate," "continue," "could,"
"estimate," "expect," "forecast," "intends," "may," "will,"
"might," "plan," "possible," "potential," "predict," "project,"
"should," "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements in this press release may include, for example: matters
relating to the Company's fight against abusive and possibly
illegal trading tactics against the Company's stock; successful
launch and implementation of SMX's joint projects with
manufacturers and other supply chain participants of gold, steel,
rubber and other materials; changes in SMX's strategy, future
operations, financial position, estimated revenues and losses,
projected costs, prospects and plans; SMX's ability to develop and
launch new products and services, including its planned Plastic
Cycle Token; SMX's ability to successfully and efficiently
integrate future expansion plans and opportunities; SMX's ability
to grow its business in a cost-effective manner; SMX's product
development timeline and estimated research and development costs;
the implementation, market acceptance and success of SMX's business
model; developments and projections relating to SMX's competitors
and industry; and SMX's approach and goals with respect to
technology. These forward-looking statements are based on
information available as of the date of this press release, and
current expectations, forecasts and assumptions, and involve a
number of judgments, risks and uncertainties. Accordingly,
forward-looking statements should not be relied upon as
representing views as of any subsequent date, and no obligation is
undertaken to update forward-looking statements to reflect events
or circumstances after the date they were made, whether as a result
of new information, future events or otherwise, except as may be
required under applicable securities laws. As a result of a number
of known and unknown risks and uncertainties, actual results or
performance may be materially different from those expressed or
implied by these forward-looking statements. Some factors that
could cause actual results to differ include: the ability to
maintain the listing of the Company's shares on Nasdaq; changes in
applicable laws or regulations; any lingering effects of the
COVID-19 pandemic on SMX's business; the ability to implement
business plans, forecasts, and other expectations, and identify and
realize additional opportunities; the risk of downturns and the
possibility of rapid change in the highly competitive industry in
which SMX operates; the risk that SMX and its current and future
collaborators are unable to successfully develop and commercialize
SMX's products or services, or experience significant delays in
doing so; the risk that the Company may never achieve or sustain
profitability; the risk that the Company will need to raise
additional capital to execute its business plan, which may not be
available on acceptable terms or at all; the risk that the Company
experiences difficulties in managing its growth and expanding
operations; the risk that third-party suppliers and manufacturers
are not able to fully and timely meet their obligations; the risk
that SMX is unable to secure or protect its intellectual property;
the possibility that SMX may be adversely affected by other
economic, business, and/or competitive factors; and other risks and
uncertainties described in SMX's filings from time to time with the
Securities and Exchange Commission.
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SOURCE SMX