RATE Group | Swiss Asset Trading Company Launches Commodity Backed Cryptocurrency
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Swiss Asset Trading Company Launches Commodity Backed Cryptocurrency

29 Sep Swiss Asset Trading Company Launches Commodity Backed Cryptocurrency

Posted at 01:12h in Cryptocurrency News by

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A Swiss-based company is launching a commodity-backed cryptocurrency token.

Tiberius Coin – Backed by Seven Precious Metals

Tiberius Group AG, a Swiss asset manager, and commodities trader recently announced its new cryptocurrency token backed by seven precious metals. According to Bloomberg, the company plans to tether the asset price to that of the price of aluminum, copper, nickel, tin, gold, cobalt, and platinum.

Giuseppe Rapallo is CEO of Tiberius Technology Ventures AG, which will lead the commodity-backed cryptocurrency project. Commenting on the company’s move, Rapallo said:

Instead of underlying the digital currency with only one commodity, we have chosen a mix of technology metals, stability metals, and electric vehicle metals. This will give the coin diversification, making it more stable and attractive for investors.

The CEO further said that the coin would be offered at $0.70, sold per the Swiss law. Also, supply will solely be on demand and restricted to the…

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