Russian palladium producer Norilsk Nickel launches palladium stable currency and begins joint experiment with Russian central bank

According to foreign media today, Norilsk Nickel (Russia's largest copper mining company), the world's largest palladium producer, is launching palladium-backed stable and tokenized commodity exchanges. The CEO of Norilsk Nickel said the token is based on the Hyperledger Fabric and was developed with the support of IBM. He said that Norilsk Nickel is reaching out to a wide range of regulators, setting up entities in Switzerland and the United States, and starting pilots with the Russian Central Bank. Prior to March 2019, Norilsk Nickel announced plans to encrypt tokens for palladium trading and revealed plans to launch its stable currency in 2019.