Norilsk Nickel, considered the world’s largest producer of high-quality palladium and nickel, has shown great progress in the development of strategies linked to digital technologies, for the launch of exchange-traded commodities (ETCs) in order to safeguard metals on the German Stock Exchange and the London Stock Exchange.

As of this Monday, January 18, the mining company called Global Palladium Fund has innovated the market with this project with the intention of launching the ETCs on the London Stock Exchange. In addition, the fund will contribute palladium, platinum, gold and silver to the ETC instrument and will work jointly with the Swiss company TokenTrust AG on metal custody agreements and tokenization strategies.

For the execution of the pilot plan, TokenTrust has provided the fund with a platform called Atomyze, based on distributed ledger technology (DLT), which will serve to record metal information and tokenize part of the mining group’s contractual volumes.

For his part, the CEO of Nornickel’s Global Palladium Fund, Alexander Stoyanov, reported that the new dynamics for the digitization of commodities “allows to capture and trace the source of the underlying metals and how they were produced, along with the credentials IS G.”

The CEO further explained that Nornickel “sets a new standard for responsible mining, by fully supporting the UN2030 charter and the existing LBMA source of metallic standards. This gives our ETC platform a clear differentiator.”

K. Villaroel

Source: Cointelegraph

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