Russian based smelting and mining company, Nornickel, is ready to get more in deep with crypto technology notably in terms of digital trading system for their stuff. The new trading setup will be launched by the end of this current year.
It’s a pleasing news for Nornickel itself as they have been working quite hard and long to make it happen. After the project is officially launching, the company will immediately set to trade their tokens, as it was stated by the Russian firm’s vice president, Andrey Bugrov.
Moreover, Bugrov also stated that the upcoming program is targeted to eventually worth close to $1 billion. Nevertheless, the VP also reminded everyone that in order to achieve that target, it’s very important to analyze every market demands since a number of factors won’t be decided by regulation, but what people are looking instead.
The plus side of doing trade of valuable metals with tokens is that it provide more fluidity in terms of transactions. Which basically means that any participants of the trade have the ability to sell excess volume to third parties much easier, compared to using traditional contracts.
Nornickel’s decision to embark on digital or cryptocurrency technology is not something completely new for them. Previously, the Russian mining giant got themselves into a partnership with IBM to release an educational program directed towards specialists in order to develop digital based tech for mining industries.