Mettalex, S&P Global Platts partner to scale DeFi

Published On: January 28, 2022Categories: Latest News1.6 min read

Mettalex global traders would have access to unique commodities markets with a guarantee of smooth operations due to the use of premium and secure price feeds supplied by S&P 500 Platts

Mettalex, a decentralized commodities derivatives exchange on Fetch.ai, is integrating industrial-grade price feeds in the DeFi ecosystem leading to higher blockchain efficiencies following their partnership with S&P Global Platts.

Details on January 25 revealed that the deal would be advantageous to traders and businesses. Notably, Mettalex global traders would have access to unique commodities markets with a guarantee of smooth operations due to the use of premium and secure price feeds supplied by S&P 500 Platts.

Matt Eversman, the Director of Licensing and Exchange Relationships for S&P Global Platts, said: Mettalex’s decision to integrate their price feeds recognizes the crucial role access to reliable data is especially when rolling out innovative solutions.

According to the Director, their data would bring more efficiency in the Mettallex’s marketplace.

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 endeavours to utilize our data in innovative new ways as new technologies continue to bring efficiency to the marketplace, he said.

Mettalex is a decentralized commodities derivatives platform on Fetch.ai—a distributed ledger incorporating artificial intelligence and machine learning techniques for efficiency and privacy preservation.

The Founder of Mettalex believes that, gradually, more commodity assets would be available on-chain. The migration of commodity instruments to DeFi has only been accelerated with the integration of S&P Global Platts’ price feeds:

We believe that a wide range of commodity assets will eventually become tradable on-chain. 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 endeavour.

About the Author: Jonathan Adams

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