Hong Kong Warehouse Metal Could Be Tokenized for Financing, LME Explores
Photo: TheCoinrise
The exchange is reportedly examining blockchain-based tokens tied to physical metal stocks to support trade financing. The London Metal Exchange, one of the world's oldest and largest venues for industrial metals trading, is reportedly examining whether metal stored in its Hong Kong warehouses could be represented as blockchain-based tokens. The goal, according to reports, is to make it easier for market participants to use physical metal holdings as collateral for financing. The LME operates a global network of licensed warehouses where metals such as copper, aluminum, zinc and nickel are stored on behalf of traders, producers and financial institutions.
Source: TheCoinrise
