EtherlinkxNi tokenizes physical nickel: each token is a right of ownership over one kilogram held by Archax as custodian in certified bonded warehouses in the Netherlands. Launched alongside xCo in the first tokenization of LME-class battery metals, it settles on Etherlink and routes live through the aggregator. Nearly six tonnes were tokenized at launch.
Class-1 nickel, per kilogram, settled on-chain.
Prism analyst note
xNi puts a kilogram of class-1 nickel, the stainless-steel and battery workhorse, into an ERC-20 on Etherlink. Nearly six tonnes exist on-chain with a few dozen holders, so it quotes live but thin. The claim runs through an Archax custody structure to real metal in Dutch bonded warehouses.
Generated from issuer disclosures and reviewed against the sources listed below. Not investment advice.
Structure & compliance
- Underlying
- One kilogram of physical class-1 nickel per token, held in certified bonded storage.
- Legal structure
- Token = beneficial ownership of nickel held in custody (Archax)
- Jurisdiction
- United Kingdom / Netherlands (storage)
- Custodian
- Archax (custodian); bonded warehouses, Netherlands
- Administrator
- Metals.io
- Reserve information
- About 5.9 tonnes of nickel tokenized at launch (June 2026). Contract and supply verified on-chain by Prism; custody arrangements are the issuer's published structure.
- Transfer restrictions
- Freely transferable ERC-20 on Etherlink. Minting and redemption are KYC-gated with the issuer; secondary trading is open.
- Investor eligibility
- Open / permissionless
- KYC required
- No, permissionless transfers
- Launched
- Jun 15, 2026
Reserve verification
Contracts & on-chain data
Addresses shown only where independently confirmed against explorers and issuer documentation. Holder and transfer analytics are available via the linked explorers. 26+
Documents & disclosures
Frequently asked
How is this different from an ETF?+
There is no fund wrapper: the token itself is the ownership record over specific custodied metal, transferable wallet-to-wallet around the clock.
How much exists?+
About 5,889 kg at verification, a real but small float. Quotes are live, so oversized orders show no route rather than a bad fill.
Who holds the metal?+
Archax, as custodian for token holders, in industry-certified bonded warehouses in the Netherlands.
