Zug – The Russian mining and smelting giant Nornickel is testing the blockchain platform from Tokentrust, a company from the Crypto Valley. The company hopes to issue tokens backed by metal reserves via the platform.

Tokentrust based in Zug, has developed the blockchain platform Atomyze based on Hyperledger in collaboration with IBM. This aims to help depict physical assets digitally, making trade more efficient and transparent. According to a press release from Tokentrust, the platform is now ready for testing.

The Russian mining and smelting company Nornickel will be the first to test Atomyze together with a few partners. Nornickel will use the platform to issue tokens backed by palladium, cobalt and copper that have been mined by Nornickel. The company estimates that it will achieve up to 10 percent of its total sales in this way in the first year.

According to Tokentrust, more institutional players will be able to access its platform later on. 

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