London Metal Exchange explores tokenizing Hong Kong warehouse metal for financing

The LME is reportedly looking to turn off-warrant metal stored in Hong Kong into digital assets, a plan tied to the city's push to become a commodities hub The London Metal Exchange wants to turn metal sitting in its Hong Kong warehouses into digital tokens that businesses could use to raise financing. The plan was described by three people with knowledge of the matter, according to Reuters. The focus is on what the industry calls off-warrant metal. A warrant is the LME’s title document, the paperwork that makes a stored lot of metal deliverable against exchange contracts.