Go for Launch

While there are various tokenization platforms already in existence – and more on the way –  one of the more anticipated is that of Atomyze.

The TokenTrustAg product has just announced the test-launch of their service.  The main driving factor behind anticipation of this platform falls back on their established relationships.  For instance, Vladimir Potanin, Russia’s richest man and President of Norilsk Nickel (Nornickel), has publicly stated his intent to tokenize various commodities for trading on the platform.

It should be noted that the test period of the Atomyze platform is limited to businesses only; Specifically those businesses which comprise their list of partners.

The company notes that upon receiving full licensing, operations will expand to include a larger scope of investors.

Capabilities

Tokenization of assets is not restricted solely to securities.  Use of blockchain and DLT can be extended to basically anything of value – including commonly traded commodities.

Regardless of the underlying asset, Atomyze notes that by utilizing blockchain and DLT, clients of their platform will benefit from a variety of capabilities, including, but not limited to, the following.

  • Permissioned view of transactions
  • Increased speed of transactions
  • Financing
  • Bridging between companies and investors

Assets from the ‘Get-Go’

While there are many assets expected to populate the Atomyze platform in time, there are three notable commodities which will be available during this testing phase.

Each of these are key assets to Nornickel and their operations.  As such, each will be tokenized, with investors gaining the ability to trade these asset backed tokens.

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Partnering Up

As we alluded to earlier in this article, Atomyze has managed to establish an impressive list of partners in their attempt to create something special.  While the presence of Vladimir Potanin and Nornickel is important on its own, the following companies are also in the mix – bringing clout and potential to Atomyze.

  • IBM
  • Umicore
  • Trafigura
  • Global Palladium Fund
  • Traxys

Commodities vs. Securities

Beyond the intrigue provided by their achievements so far, through Atomyze, TokenTrustAg has no intention of restricting themselves to dealing in commodities alone.

The company is currently in the midst of applying for multiple designations which would allow for them, and their subsidiaries, to delve into the world of tokenized securities.  If successfully awarded, these designations will see TokenTrustAg become both a ‘self-regulated organization’, as well as a licensed securities firm within Switzerland.

Commentary

Upon announcing their test-launch, representatives from Atomyze, as well as various partners, took the time to comment.

Marco Grossi, CEO of Atomyze, stated,

The main idea of tokenization is not in buying or trading cryptocurrencies; it lies in the creation of a modern and transparent mechanism for digitizing of assets, and in the creation of new digital markets, where tokenization is a service helping issuers transfer rights to their assets into a digital form.

Manish Chawla, Global Managing Director of Energy & Natural Resources Industries at IBM, stated,

“The joint efforts among Atomyze, IBM and Nornickel have made it possible to develop a truly powerful and unique industry solution. Asset/commodity trading is only one of many opportunities in our industry where tokenization can transform current business processes…As the leader in the creation of permissioned and governed private blockchain networks for industry outcomes, we are eager to help advance the idea of a new token-based economy with this project.”

The Tycoon

Vladimir Potanin is a Russian tycoon known for his great wealth.  Wealth that was made possible through mining giant, Nornickel, where he serves as President of the company.  In 2020, it is believed that his wealth tops $27 billion, making him one of the richest individuals in the entire world – and the richest in Russia.

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He took the time to elaborate on his view of digitization, and how Nornickel is setting themselves up to remain competitive in the future through Atomyze.

The economy is being digitalized, that is to say, the flow of capital is spilling over from the traditional economy to the digital one. Nornickel invests in a variety of digital solutions for industrial applications. The tokenization of payment settlements is one of them. Nornickel will be the first company among the extractive industry leaders to begin trading using tokens. Nornickel is interested in this project because it will enable the Company to popularize palladium and other metals by transitioning to digital trading methods.”

Atomyze

Above all, Atomyze operates as a tokenization platform, while maintaining headquarters in Zug ‘crypto valley’ Switzerland.  The company functions as a product of TokenTrustAg.  A full launch of services is expected sometime in late 2020.

CEO, Marco Grossi, currently oversees company operations.

In Other News

For now, the launch of Atomyze sees operations performed within test-mode only.  This will provide platform clients time to familiarize themselves with its offerings, in anticipation of a late 2020 live-launch.

This wait until late 2020 is partly due to impending changes surrounding Russian regulation of digital assets.  We recently took a brief look at Russia’s goal of amending previous regulations, in an attempt to modernize their approach.

Bank of Russia Looks to Retcon Regulations Surrounding Digital Assets



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