Abaxx Investor Call Notes - July 3, 2024
Abaxx Technologies (ABXX) investor call notes.
Investor Call Notes
The exchange and clearinghouse is now operational and revenue-generating.
Quarterly conference calls and reporting financial results at each quarter end from now on, instead of irregular investor calls.
All technology products must be reviewed by clearing members and regulators before being used commercially on the exchange.
Announcing more clearing members in the summer.
Four more FCMs, two true FCMs and two carry brokers, will be onboarded over Q3. The first bank FCM is coming soon. Two more global banks are in the pipeline. By Q4, six FCMs should be involved.
Decided to open markets despite initially limited connectivity because the market-building process will take time regardless.
Over $1 million dollars of notional activity traded so far.
New inquiries for joining the markets and new potential products on a daily basis.
Could compete on products with existing volumes later on thanks to the technological innovations they’re making (smart pricing of commodities).
Now finalizing the roadmap for full digital title (FDT) and smart commodity contracts for 2025 and beyond.
FDT is not a part of their regulatory approvals yet, so that will need to be approved.
Blockchains, as they currently stand, lack two necessary pieces to solve the decentralization problem: Trusted identity that isn’t centralized and ledger privacy for competing enterprises. Abaxx is working to solve these problems.
ID++ first product release to the public will happen in late Q3 or early Q4. Abaxx Verifier will manage decentralized ID++ and credentials for the SmarterMarkets platform.
ID++ V2 was finished in Q3. ID++ has been integrated into the exchange if participants opt to use it.
Project Venice: New products for product origin tracking and tracing systems, using messenger and AI cockpit prompting tools for interacting securely with entities in the carbon markets.
SmarketMarkets Coffeehouse: Launching a new social media platform for people interested in SmarterMarkets. Will use ID++ technology to facilitate a troll-free exchange of ideas. Three levels of access: Contributors, commenters, and members.
Coffeehouse will be released to the public and will offer users outside of the exchange ecosystem access to market data.
They’re once again looking to bring in additional strategic partners in Abaxx Singapore (AEX). New inbound discussions and previous discussions before launch are ongoing.
Looking at creating new business lines organically or exploring acquisitions. With Abaxx Technologies operating as a subsidiary (technology side of the business), they’re exploring joint ventures, acquisitions, or other ways of raising funding without impacting the exchange side of the business.
Q&A Section
10+ new products across energy and metals: Working closely with the industry to see what products are actually needed, not just trying to disrupt when no one is asking for it. Wouldn’t provide any timelines for new products. They don’t want to talk publicly about what products they’re going to launch before they’re close to being ready.
No issues happening with the exchange so far, everything is working smoothly for technology and exchange operations.
Abaxx expects most initial FCMs and brokers to be connected in the next month or two before a more busy fall season.
They’ll start providing more data on open interest, volume, and financial projections on their upcoming conference calls and potentially on the new SmarterMarkets platform.
Abaxx actually still has the Tacora port royalty. They still have the iron ore assets.
Uplisting: They're now looking into it again as they’ve launched the exchange. It's not a near-term priority, though. They didn’t necessarily say they were still trying to uplist on the CBOE and referred to the process as a “blank slate,” so Nasdaq could be in play.
So far it sounds good. I will also listen to the call.
Great detail, thanks.