Nornickel subsidiary launches digital financial assets for basket of metals

MOSCOW. March 14 (Interfax) - GPF Investments, the digital metals subsidiary of MMC Norilsk Nickel , has issued unique digital financial assets (DFA) on the Atomyze blockchain platform for a basket of five metals: gold, palladium, platinum, copper, and nickel, Nornickel said in a press release.

The issue volume of the new digital financial assets is 11 million rubles, with a circulation period of one year. The issue includes two early redemption periods, allowing investors to lock in profits when metal prices are most attractive.

The cost of each new DFA is determined based on the LBMA and LME evening prices per unit mass of the respective metal. Since the quotes are in dollars, the price is converted into rubles at the Central Bank of Russia's exchange rate. To fulfill its obligations, GPF Investments acquires the required amount of precious metals at the issuance of the financial instrument.

Thanks to a selection of raw materials for various economic sectors, investors receive a comfortable combination of risk and return in the form of a ready-made diversified portfolio, Nornickel said.

"The new digital financial assets are the first tokenized basket of investment-attractive precious and industrial metals. Such diversification helps protect against short-term price changes in specific metals," said Alexey Ilyasov, CEO of Atomyze.