Swiss-Based Asset Management Firm to Introduce Metals-Backed Cryptocurrency

Switzerland-based asset management company Tiberius Group AG is going to introduce a cryptocurrency backed by metals, Bloomberg reported September 27 Founded in 2005 as a commodities asset management firm, Tiberius Group manages around $350 million in assets "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." Rapallo also said that the coin will be offered at about $0.70 and sold in compliance with Swiss law, while its supply will be based on demand and limited by the availability of the underlying metals The company reportedly chose Estonian exchange LATOKEN to list the coin as, per Rapallo, it meets the necessary regulatory standards Next year, the platform reportedly aims to widen to agriculture and metals.

In July, Swiss online physical commodities exchange Open Mineral announced plans to build a consortium of mining companies and financial organizations to develop a blockchain-based mineral trading system dubbed Minerac. . Source