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German Exchange launches trading in Norilsk Nickel tokens

Users of the German stock exchange (Deutsche Börse) will be able to buy Norilsk Nickel tokens backed by palladium. Recall that the Russian giant announced its intention to issue a digital asset tied to precious metals back in 2019. According to the head of Norilsk Nickel, Vladimir Potanin, the launch of the new instrument will help raise funds for the projects of the metallurgical company. The Global Palladium Fund is engaged in the placement of tokens on the German exchange, RBC reports, citing a statement from the company’s press service. The instrument is expected to be listed on the London Stock Exchange over the next few weeks. The press center of Norilsk Nickel noted that investors had the opportunity to buy innovative instruments with real collateral. In fact, through “palladium tokens”, each trader gets access to commodity markets. Note that the Global Palladium Fund issued its first tokens back in December last year. With the help of such an asset, the issuer will be able to transfer part of contracts with industrial enterprises into digital format. In addition, the use of decentralized technologies allows you to form a data exchange system without the involvement of intermediaries, which will significantly reduce the transaction costs for the supply of goods.

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