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WGC, Linklaters LLP, Hilltop Walk Consulting launch Wholesale Digital Gold

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The World Gold Council, Linklaters and Hilltop Walk Consulting have unveiled a pioneering vision to transform the global gold market through the introduction of Wholesale Digital Gold—a transformative concept that will enhance how gold is owned, traded, and utilised.

In today’s wholesale market, gold trades are settled in two main structures. The first is allocated gold which involves direct ownership of specific physical bars but is

operationally complex; and the second is unallocated gold, which has higher liquidity and lower costs, but may expose investors to the credit risk of the institution where the account is held.

Following on from the FMSB’s Precious Metals Spotlight Reviews1, and in consultation with key industry participants; we propose a new way to settle gold, bridging the gap between these two structures. Pooled Gold Interests combines the best of both worlds by providing physical ownership, just like allocated gold, but with new benefits to investors including:

  • Broader and simplified use of gold, including as collateral.
  • Ownership of an interest in a pool of vaulted gold bars – even in small, fractional amounts.
  • Easy and secure transfer of gold interests between parties.

Mike Oswin, Global Head of Market Structure and Innovation, World Gold Council commented: “Wholesale Digital Gold is a vision to transform the way gold is owned and traded. The UK Government’s recent publication on Financial Markets Digital Strategy highlights the importance of digitalizing wholesale markets to drive efficiency, resilience, and innovation—an ambition that closely aligns with our own.”

“As the world’s leading gold trading hub, with the Loco London market clearing an average of 20 million ounces daily, the UK is well positioned to lead the way in improving the way gold is traded and cleared to the benefit of all market participants. Introducing a robust legal structure and innovative technology for gold ownership and settlement, will only reinforce London’s role in the global gold market.”

The Wholesale Digital Gold ecosystem is designed to be technology-neutral, supporting initiatives like World Gold Council and LBMA’s Gold Bar Integrity programme. It also optimises for regulatory compliance and capital efficiency.

To support this innovation, a new legal framework has been developed by Linklaters. This framework underpins the issuance and transfer of interests in a pool of vaulted gold bars, ensuring beneficial ownership of the physical gold held in custody. Core participants in the Wholesale Digital Gold ecosystem would co-own the underlying pooled gold and issue digital fractional ownership interests in the gold, maintaining transparency and trust.

Richard Hay, Partner and UK Head of Fintech at Linklaters, commented:

“We are proud to support the World Gold Council and the broader industry in articulating their exciting vision for a digital gold market through the development of a new legal structure to support that vision. This structure provides legal certainty and supports operational flexibility essential for innovation in precious metals trading. By enabling secure, transparent and efficient digital ownership of fractional interest in gold, we are helping to unlock new opportunities for market participants and reinforcing London’s leadership as the world’s preeminent gold trading hub.”

The World Gold Council invites market participants, regulators, and technology providers to engage with this initiative and help shape the future of the gold market.

World Gold Council

We are a membership organisation that champions the role gold plays as a strategic asset, shaping the future of a responsible and accessible gold supply chain. Our team of experts builds understanding of the use case and possibilities of gold through trusted research, analysis, commentary, and insights. We drive industry progress, shaping policy and setting standards for a perpetual and sustainable gold market.

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GJEPC Showcases India’s Craftsmanship, Innovation and Design At JCK Las Vegas 2026 Through The India Pavilion and India Design Gallery

India Pavilion Was Inaugurated By Dr. K. J. Srinivasa, Hon’ble Consul General Of India To Los Angeles

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Marking its 21st consecutive participation at JCK Las Vegas, the India Pavilion brings together 33 premier exporters, showcasing India’s innovation, craftsmanship and design prowess. The India Design Gallery complements the showcase with 26 exceptional creations from the Artisan Jewellery Design Awards 2026, celebrating India’s growing influence in design-led jewellery innovation.

The Gem & Jewellery Export Promotion Council (GJEPC) marks a defining milestone this year, celebrating its 21st consecutive participation at JCK Las Vegas, the world’s premier jewellery trade event. From May 29th to June 1st, 2026, at The Venetian Expo, the India Pavilion will serve as a global stage for 33 of India’s most visionary member exporters. Spanning 3,900 sq. ft., the pavilion represents the “Brilliant Bharat” initiative, showcasing a transition from a manufacturing powerhouse to a global trendsetter that blends centuries-old hand skills with a sophisticated, design-first approach for the international market.

The India Pavilion was inaugurated by Dr. K. J. Srinivasa, Hon’ble Consul General of India, Los Angeles, in the presence of Kirit Bhansali, Chairman, GJEPC; Vijay Mangukiya, Convener – International Exhibitions, GJEPC; Ashish Borda, Convener – Promotions, Marketing & Business Development (PMBD), GJEPC; Mital Doshi, Convener – Banking, Insurance & Taxation Committee (BITC), GJEPC; and Sabyasachi Ray, Executive Director, GJEPC.

The pavilion’s architecture across two strategic levels is designed to guide international buyers through a curated journey of Indian excellence. On Level One’s Passport Section, the narrative begins with the timeless elegance of natural diamonds and the intricate artistry of studded and plain gold jewellery, reflecting India’s deep-rooted connection to precious metals. The experience continues at Level Two, which serves as a specialised hub for high-end natural diamonds and couture jewellery collection. The collections speak the refined language of global aesthetics.


Another standout is the India Design Gallery at level 1-105, a showcase of specially crafted one-off jewels presented under the overarching theme, Quantum Couture. Curated by Paola De Luca, a globally recognised jewellery trend forecaster,  the pieces reimagine India’s rich artisanal heritage through a modern lens. The India Design Gallery spans three narratives, namely, Embroidery, Micro Painting, and Poetic Layers, each translating heritage techniques into bold, future-facing expressions of design.

Kirit Bhansali, Chairman, GJEPC, said:

“For over two decades, GJEPC has maintained a strong presence at JCK Las Vegas, and our 21st year marks a significant evolution in how we present Indian craftsmanship to the world. With 33 exporters across 3,900 sq. ft., we are not just showcasing products; we are showcasing India’s capability as a design-led manufacturing powerhouse. By blending our ancestral savoir-faire with modern innovation, we have ensured that the India Pavilion offers a vision of jewellery that is innovative, market-ready, and deeply rooted in excellence, reinforcing our position as the world’s preferred sourcing destination.”

The India Design Gallery reflects the creative evolution of Indian jewellery, where heritage craftsmanship meets contemporary design thinking. By showcasing exceptional creations from the Artisan Jewellery Design Awards 2026, we are presenting India’s growing capabilities as a global hub for design-led jewellery innovation.” added Bhansali.

Commenting on GJEPC’s recently announced membership of the Natural Diamond Council, Bhansali, noted: “The Natural Diamond Council plays a vital role in promoting the desirability and enduring value of natural diamonds among consumers worldwide. Our membership reflects GJEPC’s commitment to supporting collective industry efforts in category marketing, consumer education and storytelling, ensuring that natural diamonds continue to resonate with a new generation of consumers across global markets.”

India’s gem and jewellery industry today stands as one of the world’s most diversified and integrated ecosystems, with strengths spanning natural diamonds, coloured gemstones, gold jewellery, studded jewellery, silver jewellery, platinum, and the rapidly growing lab-grown diamond segment. Backed by a vast network of skilled artisans, advanced manufacturing capabilities, design innovation, and a strong supply chain, India has emerged as a preferred global sourcing destination, serving leading international brands and retailers with quality, scale, and craftsmanship.

India’s global rise in the gem and jewellery sector is also driven by sustained industry-building and international engagement initiatives led by GJEPC. The Council continues to strengthen India’s position on the world stage through active participation in key global industry forums including the World Diamond Council, World Federation of Diamond Bourses, and Kimberley Process, advocating ethical sourcing, transparency, sustainability, and responsible growth across the global value chain.

As part of its international outreach strategy, GJEPC provides Indian exporters access to key global markets through participation in leading international trade exhibitions and Buyer-Seller Meets across regions including Hong Kong, Las Vegas, Singapore, Italy, London, Sydney, Dubai, Bahrain, Japan, Germany, Saudi Arabia and Brazil. Flagship engagements include renowned platforms such as Jewellery & Gem ASIA Hong Kong, JCK Las Vegas, VICENZAORO, Jewellery Arabia, HKTDC Hong Kong Shows, JGT Dubai, and International Jewellery Tokyo, alongside focused Buyer-Seller Meets and initiatives such as IGJS Jaipur and SAJEX. These initiatives continue to expand market access, facilitate business opportunities, and strengthen India’s position as a trusted global jewellery hub.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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