Swiss company creates a cryptocurrency that is secured by a metal

[Paha87]

The company Tiberius Group AG, which is engaged in asset management, intends to introduce a cryptocurrency secured by metals. Founded in 2005 as a commodity asset management company, Tiberius Group manages approximately $ 350 million in assets.

The company will issue Tiberius Coin tokens, the value of which will be tied to the price of copper, aluminum, Nickel, cobalt, tin, gold and platinum. Giuseppe Rapallo, CEO of Tiberius Technology Ventures AG, who will lead the product, told Bloomberg:

Instead of creating a digital currency based on only one commodity, we chose a combination of process metals, stable metals and electrically conductive metals. This will give diversification to the coin, making it more stable and attractive to investors.

Rapallo also said that the coin would cost approximately us $ 0.70 and would be sold under Swiss law, while its supply would be demand-based and limited to the availability of base metals. It is reported that the company chose the Estonian LATOKEN exchange to list its coin, because, according to Rapallo, it "meets the necessary regulatory standards".

According to Adrian ash, Director of research at London's BullionVault Ltd.:

They are trying to solve the problem associated with the crypto currency created with security in metals, although so far none of them has acquired demand. It solves a problem that does not exist — all this can be achieved without the additional cost of using a distributed registry.

Earlier this month, the company reported that the venture company, dubbed komgo SA, which will begin operating at the end of this year, is going to digitize the processes of financing trade and commodities through an open platform based on blockchain. Next year, the platform is reported to be aimed at expanding the development of the agriculture and metals sectors.

In July, the Swiss online commodities exchange Open Mineral announced plans to establish a consortium of mining companies and financial institutions to develop a mineral trading system called "Minerac". The company explained that the blockchain"will simplify the trading process, increase efficiency and profitability."


Link to the source of information (Russian) -https://altstake.io/news/shveycarskaya-kompaniya-sozdaetkriptovalyutuobespechennuyu-metallami