Mettalex is breaking into a niche trading category and has found a reputable traditional partner to bring inaccurate data for users.
Industrial Commodity Pricing Comes to DeFi
Mettalex has announced a partnership with S&P Global Platts to bring industrial-grade energy and commodities prices feeds to Decentralized Finance (DeFi) on Binance Smart Chain (BSC). The agreement with S&P Global Platts will improve trading on BSC giving users better trading and decisions tools.
The move from Mettalex is a major piece in large-scale investor trading and the agreement with S&P Global Platts will integrate industry-leading analytics and price feed for a variety of commodities like copper, aluminum, lithium, uranium, and zinc. Users will be able to confidently place long and short investments with 24/7 availability for increased efficiency.
“We believe that a wide range of commodity assets will eventually become tradable on-chain,” Mettalex’s Founder and CEO Humayun Sheikh said in the January 27 press release. “Mettalex’s mission is to advance this process by enabling the market to manage risk, particularly in new niche commodities markets, and democratizing access to the raw materials asset-class. We are thrilled to have one of the leaders in the price benchmarks space, S&P Global Platts, to help us in this endeavor.”
The integration was not given a timetable but the official blog states that sufficient liquidity will be the main prerequisite. Powered by Fetch.ai, Mettalex seeks to bring commodities market trading to BSC, giving traditional traders more decentralization, increased security, and more accessibility.
“We’re pleased that Mettalex recognizes the value of the transparency S&P Global Platts brings to the commodities markets we serve and that it endeavors to utilize our data in innovative new ways as new technologies continue to bring efficiency to the marketplace,” added Matt Eversman, Director of Licensing and Exchange Relationships for S&P Global Platts.
What is S&P Global Platts?
At S&P Global Platts, we provide the insights; you make better-informed trading and business decisions with confidence. We’re the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing, and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture, and shipping.
S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments.
For more information, please visit: www.spglobal.com/platts
What is Mettalex?
Mettalex is a decentralized commodities derivatives trading platform powered by Fetch.ai. Founded with the mission to bring the $20 trillion commodities market on-chain, Mettalex provides the technology needed to scale the DeFi ecosystem to meet the needs of today’s global financial markets. The Mettalex DEX aligns the incentives of traders, liquidity providers, and physical commodity holders, and brings unique, commodities-focused markets to the DeFi space. Mettalex’s innovative system design introduces improvements in UI/UX, trading processes and risk management.
Where to find Mettalex:
Source : bsc.news
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