London Metal Exchange Plans to Tokenize Warehouse Metal Reserves

TechFlow reported on October 30, citing Bitcoin.com News, that the London Metal Exchange (LME) said it is exploring tokenizing metal inventories in warehouses not covered by registered warrants to support business financing. The exchange said it plans to issue tokens backed by metal reserves that, when necessary, may be held by a third-party custodian for loans and other obligations; such unregistered-warrant metal had previously lacked standard financing methods. The LME said it is currently in an early exploration stage and will communicate with stakeholders as it develops the plan.

Source: TechFlow