A copper mine in Namibia is joining the crypto era.

A digital asset manager has signed a US$300 million deal to tokenise the assets of the mine over two years, reports ITWeb.

The asset manager, DAMREV, with operations in the US, Australia, South Africa, Côte d’Ivoire and Botswana, says tokenising the mine involves transforming the mine’s assets into digital tokens on a secure blockchain network. The tokens, representing the value of the mine, can be bought, sold or exchanged in a frictionless, secure process on the blockchain.

The system ‘will enable fractional ownership, increased liquidity and enhanced transparency’, says DAMREV.

The company explains that the initiative will foster ‘a more inclusive financial environment, where small-scale investors can partake alongside larger entities in the commodity market’.

30 July 2024
Image: Freepik