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zenGate Global

Japan
Market: Blockchain
Stage of the project: Idea or something is already done

Date of last change: 08.11.2022
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Idea

The Palmyra ComDEX is one of the first physically settled, tokenized commodity exchanges powered by the blockchain. With a strong focus on opportunity inclusion and semi-fungible commodities.

Current Status

We have currently signed two partnerships, one with a leading university in Thailand and another with the largest wholesale Thai Gold wholesaler.
We are also finalizing a partnership with the Sri Lankan government to onboard various commodities from that market.

Problem or Opportunity

The world today has a multi-trillion dollar commodities market. Some of these commodities we are familiar with, from the likes of oil to lithium, and often have efficient supply chains, access to capital and world-class technology.

However, not all commodities have the same type of access - many (despite being multi-billion dollar markets) and the businesses that support these supply chains continue to remain underserved with a lack of access to affordable technologies and financing.

Solution (product or service)

Our solution is the Palmyra ComDEX. The world’s first physically settled, tokenized commodity exchange powered by the blockchain. With a strong focus on emerging markets, opportunity inclusion for micro, small and medium enterprises and semi-fungible commodities without access to traditional markets.

Our platform will connect buyers and sellers of commodities all over the world, starting with establishing a robust spot market, followed by the creation of a futures market - enabling for the creation of new financial instruments that have never existed before for these markets.

Business model

The business will ultimately make money from transaction costs when users on the platform buy and sell the commodities. Further there will be a DeFi and trading layer that sits on top of spot markets, there are also monetization opportunities for providing these services.
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