Published: Feb 1, 2024 8:10 AM Updated: Feb 1, 2024 8:10 AM
In a significant step to strengthen its expertise, zenGate Global announced the appointment of Lamon Rutten as an advisor. With a remarkable career spanning nearly 40 years in the commodities sector, Mr. Rutten’s addition to the zenGate team marks a pivotal step in the company’s journey to build the Palmyra platform, the next generation of global commodities exchange.
Mr., a famous figure in the product world. Rutten’s renowned accomplishments include overseeing the creation of the world’s largest commodities exchange. He held the prestigious position of CEO and Managing Director at the leading global commodity exchange, the Commodity Exchange of India (MCX). He also led the company through its successful IPO in 2012. He also has experience working as the Director of Commodity Risk Management and Information at the United Nations and as Manager, Policy, Markets and ICT at the Technical Center for Agricultural and Rural Cooperation, ACP. He is the CEO of EU (CTA), Indonesia Commodity and Derivatives Exchange (ICDX).
Now, Mr. Rutten has joined zenGate Global to strengthen the development of the Palmyra platform, a pioneering commodities exchange. His role includes navigating the regulatory environment, scaling the exchange, and structuring critical areas, all of which are essential to zenGate’s mission to revolutionize global commodity trading.
Focused on empowering emerging economies, the Palmyra platform aims to provide advanced technological solutions such as tokenization, traceability, and on-chain certificates. These solutions will benefit a wide range of stakeholders, including primary producers, buyers, traders, financial institutions and regulators. This initiative promises to lower barriers to entry and catapult these markets into the era of digital transformation, with Rutten’s expertise playing a key role.
Daniel Friedman, CEO of zenGate, expressed enthusiasm about Mr. Rutten’s addition: “We are very excited to have Mr. Rutten join the zenGate team. “His stellar track record and wealth of experience will play a critical role in expanding the Palmyra platform to realize our combined vision of being the next generation commodities exchange.”
Mr Rutten said of his new role: “I have been part of the exchange journey from a traditional platform to a technology-driven company. zenGate is now reimagining the commodity exchange infrastructure from the ground up. I’m excited to join forces with the zenGate team, whose deep understanding of modern technology is far superior to mine. “Their vision of applying this technology to solve the challenges of the commodity supply chain aligns perfectly with my experience and aspirations for the future of this industry.”
Mr. Rutten’s successful addition is a testament to zenGate’s diligence and dedication to creating a cutting-edge platform that will redefine modern commodity trading.
zenGate Global Introduction
zenGate Global is a leading technology company building the Palmyra platform, a new, innovative solution that will power the next generation of global commodity exchanges.
Committed to transparency, efficiency, and sustainability, zenGate is dedicated to creating solutions that foster direct connectivity and drive growth in emerging markets. Through its pioneering efforts, zenGate is setting a new standard for how businesses interact and grow in the digital age.
palmyra platform
Powered by blockchain and new innovative technologies, the Palmyra platform targets products in emerging markets. A trillion dollar opportunity. The company’s first plan was to launch the Palmyra platform in 2023, registering Sri Lanka as a pioneering jurisdiction. The team is currently in the process of onboarding producers from Indonesia, Kenya, Greece, Turkey, and other jurisdictions.
Palmyra aims to add value to existing commodity markets by building an infrastructure that provides access and connectivity between stakeholders across the global supply chain. It specifically focuses on micro, small and medium-sized enterprises (MSMEs) trading among large regulatory and trading bodies that create market frameworks.
There is a tremendous opportunity to create spot and futures markets in important but technically underserved commodity trading markets. The goal is to serve these segments through Palmyra and accelerate these actors through integrated solutions that streamline their existing processes while introducing innovative blockchain solutions.
For more information, please contact:
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Website: http://zenGate.Global
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About the author
Gregory, a digital nomad from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With his extensive experience in the financial industry, his insights and expertise have been recognized by numerous publications. Making effective use of his spare time, Gregory is currently devoted to writing books on cryptocurrency and blockchain.
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Gregory, a digital nomad from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With his extensive experience in the financial industry, his insights and expertise have been recognized by numerous publications. Making effective use of his spare time, Gregory is currently devoted to writing books on cryptocurrency and blockchain.