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The first tokens were issued by The Global Palladium Fund of the Russian Norilsk Nickel

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 Norilsk Nickel, the world’s largest producer of palladium and nickel, has issued the first tokens involving metal contracts to its major industrial partners Traxys SA and Umicore SA, company’s press release says. 

Norilsk Nickel was one of the first companies in the industry and in the world to launch this mechanism. 

“The Atomyze tokenization platform has the potential to revolutionise the industrial commodity market. We are excited about this opportunity to be one of the first to use the tokenization platform, and believe that this new ecosystem can make our daily operations more flexible, sustainable and profitable,” – Traxys Chairman Alan Docter commented.

Bernhard Fuchs, Senior Vice President, Precious Metals Management and Umicore Marketing Services, added: “We recognize the value that the Atomyze platform is delivering: efficiency, cost optimization and flexibility that tokenization brings along — it’s a leap forward towards new levels of business efficiency as well as multi-layer-documentation, and we are looking forward to set off on this innovative path.” 

Atomyze uses Distributed Ledger Technology (DLT) to tokenize assets in digital form providing accessibility, reducing costs, and increasing transparency. GPF, the platform’s first client, is issuing tokens covering the whole range of metals produced by Nornickel — via the Atomyze tokenization platform operated by Tokentrust AG. 

MMC Norilsk Nickel is a diversified mining and metallurgical company, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.

The production units of Norilsk Nickel Group are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland and South Africa. 

MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges, ADRs are traded over the counter in the US and on the London, Berlin and Frankfurt Stock Exchanges.


(Syndicated press content is neither written, edited or endorsed by ED Times)

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