Representatives of the Russian metallurgical company Norilsk Nickel are negotiating with the Huobi cryptocurrency exchange to place a stablecoin secured with metals on the platform.

Earlier it was reported that the leadership of the metallurgical giant plans to release its own cryptocurrency next year. This asset will have collateral in the form of non-ferrous metals, which will minimize the risks of its volatility in the market.

As noted by the Vice-President of the Russian Association of Cryptoindustry and Blockchain (RAKIB) Andrei Grachev, if all the work on the issue of stablecoin will be done on time, then the coin can be placed on the Huobi exchange. This information has already been confirmed in the press center of Norilsk Nickel.

Nobody specified the details of the negotiations, but it is known that the head of the metallurgical company, Vladimir Potanin, said it was necessary to develop a new mechanism for attracting investment in the manufacturing sector, which is now suffering due to Western economic sanctions.

According to Potanin, the use of stablecoin to attract capital will be an excellent form of circumvention of the sanctions policy.

The press service of Norilsk Nickel also added that the details of the project to launch a token secured with metal are currently being worked out. Huobi specialists get acquainted with a new crypto project and advise top managers of Norilsk Nickel on the asset placement on the exchange.

Huobi company was founded in 2013. It has its offices in the USA, Singapore, Great Britain, Japan, Australia, Thailand, Hong Kong and other countries.