Russian blockchain company Atomyze announced the tokenization of palladium manufactured by Nornickel. Atomyze was the foremost Russian company to be granted permission to trade digital assets five months back (February), despite the central bank’s longstanding reservations over digital currencies.
“The release of Russia’s initial industrial token signals the entrance of the Russian market into digital age – the new era of tokenization,” as per Vladimir Potanin, CEO of Interros Holding, one among Atomyze’s investors and the biggest stakeholder at metals manufacturer Nornickel.
“In contrast to unsecured cryptocurrencies, where blockchain technology is utilized to maximize user privacy, industrial as well as other digital tokens are backed by tangible assets, and the utilization of blockchain technology has made their transactions safe,” he noted.
The initial investors on the platform are the Russia headquartered Rosbank, in which Interros also owns a stake, and the intermediary (broker) Vector X, according to a statement released by Atomyze.
