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- Atomyze AG welcomes four new commodity firms: Glencore, IXM, StoneX, and William Rowland to its growing client roster
- The partnerships set the stage for the tokenization of copper, nickel, and palladium by a platform situated at the heart of Switzerland’s world-leading commodity industry
- Grant Thornton will provide Agreed-Upon-Procedure (AUP) reports on all Atomyze platform transactions
Atomyze AG, a Swiss-based company and SRO member VQF that launched commercially in December 2020, is today announcing that four major metals industry firms are joining its ecosystem. The new partnerships will further Atomyze AG’s goal of providing improved access, liquidity, efficiency, and transparency to the sourcing and trading of base and precious metals.
As platform participants, Glencore, IXM, StoneX, and William Rowland, will be able to issue, sell, transfer, and redeem industrial tokens; currently, copper, nickel, and palladium. Other metals and commodities are under assessment for tokenization with different issuers, while further global mining and trading companies, as well as manufacturers of industrial material are in the process of being onboarded.
Atomyze AG, Board of Directors Vice-Chairman, Alexander Stoyanov stated: "Additional market players joining Atomyze gives us the opportunity to test and prove the current innovative nature of the Atomyze tokenization platform as well as to investigate and pilot new features and value drivers we can bring to the platform's ecosystem.”
Atomyze AG, CEO, Marco Grossi stated: "Industrial tokens on the Atomyze platform provide a unique opportunity to manage upstream value chain and supply risk in a more cost-effective and transparent digital environment."
In 2022 and beyond, Atomyze plans to expand features of the platform. Specific trading functionalities, following relevant regulatory licensing, will bring increased flexibility, optionality, and liquidity to the marketplace.
Grant Thornton will produce regular “AUP” (Agreed Procedures for the Audit of Financial Information) on all confirmed transactions and the contractual rights represented by industrial tokens, giving added comfort to participants of the newly applied distributed ledger technology.
