PSM / SMAP
Strategic Minerals & Digital Trade

PSM handles the physical supply and trade of strategic minerals. DEMORA’s role is to develop, support and operate the digital infrastructure for these transactions through SMAP, an institutional B2B platform.

The initial material focus is antimony and platinum group metals (PGM). Specifications, quantities, supporting evidence and delivery terms would be established for each transaction.

SMAP’s first development phase is complete. Discussions with WLF and BitGo are underway on the requirements for the next phase. Phase two is planned to begin once the relevant arrangements are agreed.

A buyer inquiry establishes the material requirement, approximate quantity, intended use and delivery region. The relevant parties can then discuss specifications, commercial terms and evidence requirements.

Inspection, warehousing and rights-related information would be connected to the asset record with its source and review scope. The contract would define the parties’ obligations, payment requirements and conditions for release or delivery. Payment status, release, delivery and agreed acceptance records would then be linked to the transaction. The precise sequence and responsibilities depend on the contract.

An inspection result, a custody document and a rights review answer different questions. The record is intended to keep those distinctions visible. A confirmation about a sample does not establish ownership, stock availability or the right to deliver the goods. Open questions remain identifiable rather than being replaced by a blanket verification label.

Fiat and stablecoin settlement pathways are being evaluated for the proposed workflow. An available payment method would need to be agreed with the relevant counterparties, together with the conditions that must be satisfied before release. Preparing settlement liquidity and issuing an asset-linked token are separate processes.

A physical trade is defined by the contract for the material and its delivery. An asset-linked token would require an additional, explicit definition of what rights the holder receives and how those rights connect to the underlying asset.

Special-purpose vehicle (SPV) and tokenization structures are being explored for eligible warehoused assets. Any such structure would need to identify the issuer, custody arrangements, applicable restrictions and the treatment of transfer, delivery or redemption. Warehousing evidence alone does not define all of those rights. This brief does not specify an offered token or provide purchase terms.

DEMORA’s role: Infrastructure development, technical support and platform operations for the strategic-minerals application. Contractual responsibilities and rights remain to be agreed. Specialist inspection, warehousing, legal, financial and settlement roles depend on the agreements for each transaction.

Discussions may cover material demand, supply opportunities, inspection and warehousing participation, settlement requirements or technical integration. A first inquiry can include the material, approximate volume and delivery region without confidential contracts or identity documents.