Salus will tokenize critical mineral exports from Rwanda to the United States on the IOTA network
- Salus is launching on the IOTA network to fund critical mineral exports
- The platform will start with rare earth metal tantalum exports from Rwanda to the U.S.
- Global critical mineral trade has a $2.5 trillion finance gap, Salus says
From microchips to EV batteries, rare earth minerals are becoming an increasingly strategic resource. On Wednesday, September 10, DeFi platform Salus launched on the IOTA chain to help bridge the DeFi sector and the critical mineral trade. The platform will start by tokenizing exports of tantalum, a rare earth metal, from Rwanda to the U.S.
According to Salus, global trade in critical minerals, currently valued at about $500 billion, has a financing gap of about $2.5 trillion. The DeFi platform hopes that bringing these assets into the DeFi space will help address this funding gap.
“We’re working with miners, funders, and buyers to redesign trade finance from the ground up,” says Trevor Skidmore, Co-Founder of Salus. “With smart contracts and stablecoins, we can fund minerals at source, on verifiable terms, with real delivery and traceability built in.”
Aside from its ongoing operations in Rwanda, Salus is expanding in other countries across Africa and Latin America. With this push, the platform plans to surpass $100 million in gross merchandise value by the end of 2025.
Growing demand for critical minerals
The launch of Salus comes amid rising demand for critical minerals. According to the IEA, demand for critical minerals needed for the energy transition away from fossil fuels will double by 2040. At the same time, the sector is seeing increased volatility due to disruptions induced by tariffs.
In this environment, the platform hopes that giving U.S. investors exposure to this industry, without the need to own mines, will help bring in the capital that has been lacking so far.
