Posted 7 months ago | by @devadmin

One of the world’s biggest palladium producers, based in Russia, announced that it’s starting the first stage of issuing blockchain-powered tokens to its industrial partners Traxys and Umicore.

Palladium Producer Giant Issues Its First Blockchain-Powered Tokens

According to the announcement, Norilsk Nickel (known as Nornickel) said the issuance of the digital coins involves metal contracts, and it aims to optimize “supply chain efficiency as well as transparency.”

Led by Russian billionaire Vladimir Potanin, the mining giant also specializes in producing nickel. The company confirmed that the miner firm Traxys and materials technology company Umicore, based in Luxembourg and Belgium respectively, are the first clients to make use of its brand-new Global Palladium Fund.

Anton Berlin, vice-president of sales and distribution at Nornickel, commented on the tokenization process:

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.

Potanin got the regulatory approval from Russian watchdogs in February, as the country discussed at that time the possibility of making a crypto law a reality in the nation…

Read the full article on Bitcoin.com, here.