Russian Nickel Giant Launches Digital Tokens to Industrial Partners
Main page News, Russia, Token

The world’s largest producer of refined nickel and palladium, Nornickel, has issued the first tokens via the Atomyze distributed ledger network involving metal contracts to its major industrial partners through a newly-established Global Palladium Fund (GPF).

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According to an official press release, the issuance of the tokens will optimize supply chain efficiency and transparency. The first two clients to use the tokens are Traxys, an American mining company, and Umicore, a Belgian materials tech company.

Anton Berlin, Vice President, Sales and Distribution at Nornickel, says the company 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," he added.

Nornickel says the GPF fund is the first one to use Atomyze's products of tokenization. Meanwhile, Russia's third largest bank by assets, Gazprombank, received a license from the Swiss Financial Market Supervisory Authority (FINMA) to provide cryptocurrency bank accounts to corporate and institutional clients.

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With the license, Gazprombank can offer custody services for cryptocurrencies as well as trading between crypto and fiat. The bank claims it will initially provide crypto-oriented services only to a limited number of selected clients.

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