Wednesday, 21 August 2019 11:52

CBL Markets, Xpansiv complete merger

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CBL Markets, Xpansiv complete merger Image IndypendenZ, FreeDigitalPhotos.net

CBL Markets (CBL) and Xpansiv have completed a merger to form Xpansiv CBL Holding Group (XCHG), a “first-of-its-kind platform” that uses authenticated production data to enable the creation and transaction of commodity products comprised of information that, until now, was invisible.

XCHG brings together Xpansiv - a data refinery and next-generation platform - with global commodity spot exchange CBL Markets.

“The XCHG platform is designed for a new asset class—data,” said XCHG CEO Joe Madden.

“XCHG ingests data sourced from each commodity’s lifecycle and converts it into Intelligent Commodities, digital assets that enable transactions based on comprehensive information linked to source data.

“New risk factors driven by resource constraints create demand for more information about the food, energy, and raw materials we produce and consume worldwide.

“The demand for commodity information is rising faster than traditional markets can adapt. XCHG provides a scalable pathway to transparency by leveraging existing data and technology to support the transaction of Intelligent Commodities.”

CBL Markets’ president and COO John Melby said: “The complementary nature of these two teams is unusual.”

“If you follow the trends, market participants are looking for authenticated information to make better decisions. This merger will put XCHG at the forefront of the Digital Commodity Ecosystem.”

“Data is the new commodity,” said XCHG Chief Strategy Officer Nathan Rockliff.

“Trillions of dollars are in flux due to the frozen liquidity of information. We plan to unlock that data and provide markets with unprecedented insights and opportunities. For the first time, it’s possible to map, buy, and sell unique attributes that are permanently traceable—from source to market.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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