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25 October 2020

Russian Metal Giant’s Tokenization Firm Expands to America - CoinDesk

Russian Metal Giant’s Tokenization Firm Expands to America - CoinDesk


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Both Atomyze and Tokentrust will use a Hyperledger Fabric-powered backend coded by Nornickel’s engineers together with IBM, and will issue tokens backed by the mining giant’s inventory.

This summer, a new law regulating digital asset issuance was passed, and starting in January issuers registered with the Bank of Russia will be able to launch tokens in a centralized, permissioned way.  .

At least in the initial phase, these tokens will not be interchangeable, said Jeanine Hightower-Sellitto, CEO of Atomyze LLC.

He added that, unlike the already existing tokenization platforms, Atomyze will take a more conservative, permissioned approach, which would give the customers more confidence about the platform’s security.

This means new companies willing to issue tokens on the platform will not be able to use the technology independently but will need to work with Atomyze. 

The tokens, which will be tradeable on Atomyze’s own platform, will not qualify as securities, Hightower-Sellitto said, and the company hasn’t had any communications with the U.S

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