Deutsche Börse lists palladium-fund tokens from Nornickel

The palladium fund Global Palladium Fund (GPF), established by Nornickel, placed metal-backed digital instruments (ETCs) on the German stock exchange Deutsche Börse and plans to list them on the London Stock Exchange within a few days.

The new instruments provide investors with low-cost access to commodity markets.

The ETCs are offered at the London Metal Exchange (LME) spot price with a competitive total expense ratio on the market.

“Exchange-traded products offer the advantages of financial assets, while the restrictions that apply to investments in metals on the London Metal Exchange do not apply to them. This instrument opens up opportunities for investors to own commodity assets at relatively low transaction costs,” commented Anton Berlin, Vice President – Head of Sales and Commercials at Nornickel.

The palladium-, platinum-, gold- and silver-backed tokens were issued on the blockchain platform Atomyze, operated by the Swiss company Tokentrust AG.

“Our method of digitising commodity goods enables us to capture and trace the sources of metals and the methods of their production, along with data confirming compliance with environmental, social and governance (ESG) requirements,” added Alexander Stoyanov, CEO of GPF.

Earlier, Nornickel joined the Responsible Sourcing Blockchain Network (RSBN), an international blockchain network that brings together sellers and buyers of mineral ore and its processing products.

The company plans to record on the blockchain information about minerals, carbon-emission intensity at mining assets and processing facilities, and other ESG indicators.

The RSBN blockchain network, based on Hyperledger Fabric from the Linux Foundation and IBM’s blockchain platform, increases transparency in the supply chain for precious minerals by maintaining an immutable ledger of transactions, access to which can be granted to designated network participants.

RCS Global Group conducts an assessment of each participant on onboarding, and annually thereafter, for conformity with Responsible Sourcing requirements set by the Organisation for Economic Co-operation and Development (OECD) and leading industry bodies, including the Responsible Minerals Initiative (RMI).

“We believe that the digital technologies of the RSBN blockchain network and the Atomyze platform will help Nornickel and its partners transition to a circular economy and track the movement of commodity goods almost in real time, without heavy paperwork,” added Anton Berlin.

In December 2020, the Global Palladium Fund issued the first tokens to digitise part of the mining-and-metallurgical company’s contracts with industrial partners.

Follow ForkLog on Telegram for news: ForkLog Feed — all the news, ForkLog — the most important news and polls.