Vladimir Potanin, whose net worth is about $18 billion, plans to tokenize the rare metal palladium. As the chairman of the mining company MMC Norilsk Nickel PJSC, Potanin told Bloomberg he’s talking with Swiss authorities to utilize crypto tokens pegged to palladium.
Potanin says he believes digital tokens are the wave of the future, offering many advantages over the current way of doing business.
The tokenization of palladium may be just the beginning. If it works out, the company will consider expanding the concept to other metals in the long run.
As for the current state of the crypto market, Bitcoin is down 0.47% at $4,016. Ethereum is down 0.29% at $138.35, XRP is down 0.43% at $0.3067, and Litecoin is up 0.16% at $60.58.