Tokens based on metals issued by Nornickel

Russian company Nornickel issues tokens based on metals

Nornickel, a company specializing in metal processing, has announced that it will release metal-based tokens on the Atomyze blockchain platform.

The platform was launched for testing among several Nornickel partners. Participating members include Trafigura trading company, Umicore metal refining company and Traxys consulting firm.

Hyperledger-based blockchain Atomyze was created to serve companies in Switzerland and the US, as Nornickel CEO Vladimir Potanin told Bloomberg.

The first batch of tokens will be backed by palladium, cobalt and copper mined by Nornickel. In the first year, Nornickel expects tokenize up to 10 percent of its total sales volume. In the future, this percentage is likely to increase to 20%.

Atomyze is currently licensing in Switzerland to offer tokenized merchandise marketing services.

FTX starts selling capital tokens

The crypto derivative exchange FTX today released its token, which represents a stake in the parent company FT Trading Ltd.

The price of the token is $ 2, and the minimum investment is $ 250,000, according to the official announcement. It is expected that the sale will end between March 1 and 7, depending on the demand. Purchase methods include the US dollar, Bitcoin, the native FTT token and other cryptocurrencies.

The FTX exchange warned that at present, the capital token cannot be traded and cannot be converted to cash. It also does not offer voting rights in the company’s decisions as would the holding of shares. Investors are advised to carefully read the terms and rights offered by this token.

Last week, The Block reported exclusively that FTX is trying to raise up to $ 30 million in a round of financing by selling equity tokens.

Filecoin is postponing its launch until summer

The decentralized Filecoin storage network has announced that it has postponed the launch of the mainnet by July 2020. The decision was taken amid delay in its testnet program.

Developed by Protocol Labs, Filecoin is built on the Interplanetary File System (IPFS) data storage network. The system allows users to buy and sell unused storage capacity on an open market.

The market operates based on the network’s native token, Filecoin. Customers can hire miners to store or distribute data, and miners can, in turn, earn rewards by fulfilling customer storage requests. Like Bitcoin, Filecoin miners compete with each other for rewards. But in this case, their mining power is proportional to the active storage, which stimulates them to collect and rent as much storage space.

Filecoin achieved one of the largest ICOs in 2017 and raised over $ 200 million from accredited and institutional investors.

The Financial Services Committee of the US Congress holds a new hearing on cryptocurrencies

On March 24, the Financial Services Committee of the US Congress will host a hearing on “A Review of Domestic and International Approaches to Digital Coins.”

No other hearing information, such as witnesses or concrete discussion topics, was published.

It is possible that the Libra project supported by Facebook will be called into question, given the opposition of the chairman of the committee Maxine Waters.

Several members of the US Congress have expressed concern about the effect that a cryptocurrency issued by a Facebook-sized company could have on the US economy.