Largest Palladium-Backed Token Issued

The world's largest producer of palladium and high-quality nickel and at the same time a mining and metallurgical company"Hopilskiy Nickel" has entered the first stageTokenizatsii, for which the partnerships were connected with two international companies, engaged in research and development of places. Digital coins with contact support and blockchain will be released in the framework of the collaboration.

Palladium Fund (Global Palladium Fund), whichis part of the Norilsk Nickel company and is the world's largest producer of platinum, palladium and high-grade nickel, and has issued the first tokens for industrial clients. This was reported by the company's press service. The tokens will become a digital form of contracts with major industrial partners such as Traxys SA and Umicore SA.

The tokens were developed using a patentedblockchain platform Atomyze, developed with the support of investors. And in February of this year, the platform was tested by the Central Bank of Russia. The Atomyze platform, operated by Tokentrust AG, is based on distributed ledger technology that allows physical assets to be converted into digital form. GPF, the first issuer of the platform, issues tokens backed by the reserves of the entire portfolio of metals produced by Norilsk Nickel.

“Our company is developing and setting newstandards by moving to digital transactions. Tokens issued on the Atomyze platform will allow the Global Palladium Fund to effectively and transparently sell Norilsk Nickel products to a wide range of buyers interested in digital solutions. We are confident that this will provide the mining industry with the opportunity to ensure responsible sourcing."“,” commented Anton Berlin, vice president and head of sales and commerce at Norilsk Nickel.

Let us remind you that the company began developingown blockchain back in 2019. Then the President of PJSC MMC Norilsk Nickel Vladimir Potanin reported that the introduction of a blockchain platform and the issuance of tokens backed by the value of the metal would allow the company to sell 20% of all products in digital format.

With the help of tokenization, Norilsk Nickel is going toSolve two global challenges: reduce administrative costs and track materials throughout the supply chain, and improve customer relationships.

“Platform for tokenization of industrial assetsAtomyze is capable of revolutionizing the commodity market. We are happy to be one of the first to gain access to this platform and are confident that this new ecosystem will make everyday transactions more flexible, environmentally responsible and profitable."- said the chairman of the board of directors of Traxys Alan Docter.

Instead of the ruble: Norilsk Nickel expands the scope of its tokens

Norilsk Nickel tokens can become an alternative currency and press even the digital ruble.

Tokens can be used to pay not only for metals, but alsopurchase Nordstar air tickets, and also exchange them for ski passes at the Rosa Khutor ski resort. In fact, the token can replace the main currency, allowing you to pay for services and goods with Norilsk Nickel coins.

Note that this is not the first use casetokens for the purchase of any goods or services. For example, a Dutch company has issued tokens backed by a stock of sardines. Coin holders can exchange tokens for vintage sardine cans.

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