The Global Palladium Fund, established by Russian mining company Norilsk Nickel back in 2016 to advance the development of metals in technologies used by the aerospace, electronics and automotive industries, has just added metal-backed digital tokens to the Deutsche Börse Stock Exchange, the Financial Times reports.
According to Norilsk Nickel, these instruments should be listed on the London Stock Exchange (LSE) within the next few days.
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The digital instruments traded on the exchange have the strengths of financial assets, however, they have the additional advantage of not being subject to the restrictions applicable to metal investments on the London Metal Exchange. These tokens provide investors with "low-cost access" to commodity markets.
The Global Palladium Fund issued its first tokens in late December on the blockchain platform Atomyze. Its test launch took place in February 2019 in the Swiss city of Zug. At that time, Norilsk Nickel announced it would become the first company to issue metal-backed digital tokens on this platform.