source：Mining Technology
The Global Palladium Fund (GPF), established by palladium and high-grade nickel producer PJSC MMC Norilsk Nickel, has issued the first tokens to its industrial partners Traxys and Umicore.
The issuance of tokens involves metal contracts. The company expects to enable optimisation of supply chain efficiency as well as transparency.
GPF is aimed at widening access to the world’s precious, base, as well as rare earth metals and to facilitate the advanced technologies development to ensure responsible sourcing of the natural resources.
Nornickel Sales and Distribution vice-president Anton Berlin said: “Nornickel 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. We are confident that it will provide the industry with the necessary tools to guarantee responsible sourcing.”
The GPF has issued the digital instruments through the global tokenisation platform ‘Atomyze’. The platform is supported by many international investors.
The first two clients Traxys and Umicore, who are also Nornickel’s major partners, arrived after the Norilsk Nickel announced its strategy to ‘integrate into a digital ecosystem’.
Precious Metals Management and Umicore Marketing Services senior vice-president Bernhard Fuchs said: “We recognise the value that the Atomyze platform is delivering: efficiency, cost optimisation and flexibility that tokenisation brings along – it’s a leap forward towards new levels of business efficiency as well as multi-layer-documentation, and we are looking forward to set off on this innovative path.”