Nornickel’s Digital Arm GPFI Introduces Platinum Group Metal Tokens

Nornickel’s Digital Arm GPFI Introduces Platinum Group Metal Tokens

Innovative Token Launch for Qualified Investors

Nornickel’s digitalization subsidiary, GPF Investments (GPFI), has launched an innovative range of digital tokens tied to platinum group metals such as platinum, palladium, ruthenium, and iridium, the top palladium miner said in a statement on Thursday. Initially available exclusively to qualified investors, there are plans to broaden access through partner banks on the Atomyze blockchain platform.

Details on Token Issuance and Investment Opportunities

GPFI has issued 1,255 digital financial assets, equivalent to about RUB 2.5 million, where each token corresponds to one gram of the respective metal. These assets offer investment flexibility, featuring a one-year maturity with options for early redemption, enabling investors to leverage favorable metal prices.

Pricing Strategy and Initial Release

The token pricing follows the LBMA evening rate for platinum and palladium, adjusted according to the rouble-dollar exchange rate from the Bank of Russia. Ruthenium and iridium tokens are priced based on Johnson Matthey’s rates. The inaugural distribution targeted three private investors, including Nornickel’s Vice President for Sales and Commerce, Anton Berlin, marking a step towards expanded investor access.

Market Impact and Future Prospects

Anton Berlin emphasized the unique position of these tokens in the financial market and pointed out the growing significance of platinum and palladium in the automotive sector and potential applications in areas like hydrogen energy. Vladimir Pronsky, CEO of GPFI, commented on the increasing investor interest in protective assets such as precious metals, highlighting their emerging appeal as financial assets.

GPFI’s Continued Focus on Digital Financial Assets

Specializing in the sale of base and precious metals through digital platforms, GPFI plans to conduct a series of public issues of digital financial assets in Russia, encompassing a range of metals for qualified investors. This initiative represents a significant advancement in digitalizing metal trading and investment, reflecting the evolving landscape of asset management and investment.

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