The Norilsk Nickel Global Palladium Fund has listed metal-backed ETCs on the Deutsche Börse and is planning to list them on the London Stock Exchange.
According to a press release from MMC Norilsk Nickel, metal-backed digital exchange instruments (tokens) have appeared in the listing of the German stock exchange Deutsche Börse and will appear on the London Stock Exchange within a few days.
The placement was conducted by a subsidiary of the company, the Norilsk Nickel Global Palladium Fund (GPF), which provides deposits of physical metals – palladium, platinum, gold and silver – in ETC instruments. The digital assets are issued on the Atomyze platform powered by the Hyperledger blockchain and operated by the Swiss company Tokentrust AG. According to Norilsk Nickel, “the technology allows storing immutable product data, providing an additional level of security.”
According to Anton Berlin, Vice President and Head of Sales and Commerce at Norilsk Nickel, the listed exchange products have the advantages of commodity derivatives. However, they are not subject to the restrictions that apply to investments in metals on the London Metal Exchange. He said:
“This tool opens up opportunities for investors to relatively inexpensively own commodity assets at low transaction costs.”
As noted by Atomyze CEO Marco Grossi, the company has created a digital ecosystem that brings together “interests in finance and industry.”
As a reminder, in December last year, the Norilsk Nickel Global Palladium Fund issued the first palladium, cobalt and copper-backed tokens on the Atomyze platform. Earlier in February, Norilsk Nickel began testing the Atomyze platform based on Hyperledger and preparing to issue metal-backed tokens.
Telegram channel!
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
