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A new nickel-focused utility token will be launched in Dubai next week to capitalize on the metal’s growing importance in the global economy.
The new Nikel token is the first initiative by NewTek, whose mission is to open up one of the largest asset classes to the masses by building a blockchain-enabled merchandise business, according to a statement.
On Dec. 6, the utility token will be listed on EU-based centralized exchange Digital Finance Exchange (DIFX) and Singapore-registered centralized cryptocurrency exchange Coinstore. This will give the Nikel Token instant access to over 1.8 million registered users across 175 countries.
“The token will build a community that can influence and shape exploration, mining, product manufacturing and R&D of all things nickel,” said NewTek CEO Safi Qurashi.
“We decided to launch the token first in Dubai, given the UAE’s status as an emerging crypto hub dedicated to developing a regulatory ecosystem for the development of the domestic crypto industry.
“Our aim is to inspire those who want to ensure that commodities impact our planet in a greener, more sustainable way, and create wealth distribution for a greater proportion of the population.”
“Using the power of blockchain and cryptography to make this process easier, more open and transparent, and put it in the hands of the community.”
The listing of the Nikel token on the DIFX exchange will give its community access to a fully insured cross-asset trading platform that allows its users to trade assets such as stocks, forex, commodities, indices as well as digital assets such as cryptocurrencies, it said.
NewTek’s Nikel token operating arm, Nikel Technology Company, is registered and registered in Singapore, and Coinstore was established in Singapore in 2020 to meet the needs of crypto asset users in Asia.
Nickel’s physical and chemical properties make it essential in hundreds of thousands of products. Its growing importance is due to the fact that, by mass, it is the metal of choice in lithium-ion batteries that power electric vehicles.
According to the statement, NewTek has established a partnership ecosystem with leading blockchain technology providers NMKR and Cardano to provide strong blockchain development expertise. – trade arab news agency
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