Connect with us

Hi, what are you looking for?

Investing

Nornickel’s global palladium fund issues first tokens to industrial partners

Global Palladium Fund

Russia’s 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 became one of the first companies in the industry and in the world to launch this mechanism.

“Nornickel is developing and setting new standards by digitalizing market transactions. The tokens issued by the Global Palladium Fund on the Atomyze platform will allow it to deliver Nornickel’s products to customers in a more efficient and transparent way. We are confident that it will provide the industry with the necessary tools to guarantee responsible sourcing.” noted by Nornickel’s Vice President, Sales and Distribution Anton Berlin.

This will give the industry the tools it needs to ensure responsible sourcing and tracking its carbon footprint, along with other ESG requirements, the company is confident. Smart contracts and tokens for metals will allow the company to deliver products to customers in a more convenient and transparent way.

The first two clients, the world’s leading commodity actors and Nornickel’s longstanding partners — Traxys and Umicore — arrived after the mining giant announced its strategy to integrate into a digital ecosystem designed to give ultimate provenance and traceability to its metals.

The Global Palladium Fund (GPF) fosters global product distribution from its sole investor, MMC Norilsk Nickel, the world’s largest producer of palladium, high-grade nickel and other metals. Its mission is to broaden access to the world’s precious, base and rare earth metals and to facilitate the development of world-changing technologies while ensuring responsible use of the natural resources.

Tokentrust AG is a Swiss-based fintech company aimed at digitizing and tokenizing the multifaceted commodities industry. Tokentrust is launching the Atomyze platform, built on Hyperledger Fabric, with the vision to facilitate access to commodities and to illiquid markets.

Read more:
Nornickel’s global palladium fund issues first tokens to industrial partners

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

Foreign portfolio investments (FPI) yielded a net inflow in May, reflecting renewed optimism in the local economy as restriction measures were gradually lifted during...

Economy

Outsourcing firms in Philippine economic zones will need a long-term remote work considerations to remain competitive against other major outsourcing economies, an official from the industry group said.  ...

Economy

The World Bank approved a fresh $400-million loan for the Philippines which will be used to support financial sector reforms as the country recovers...

Economy

Philippine President Rodrigo R. Duterte on Thursday night urged the Congress to pass his administration’s last two tax reform bills.  In his speech during...

Economy

The prolonged COVID-19 pandemic is clouding economic projections for Southeast Asia, with most countries not expected to return to pre-pandemic growth levels for several...

Economy

US President Joseph R. Biden, Jr. has extended his sympathy over the passing of former Philippine President Benigno S. C. Aquino III, recognizing his efforts in promoting...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Economy

THE Securities and Exchange Commission (SEC) has warned the public from investing or to stop any investment in a group named Maxxprofit Computer Trading...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!