Cryptocurrency
Tiberius Offers Crypto Coins Backed by Seven Commodities via @crypto
As reported by Bloomberg Crypto, “Swiss asset manager and commodities trader Tiberius Group AG is stepping into the $215 billion digital coin market by offering a new token backed by seven metals in a sale set for Oct. 1. “Aiming to distinguish its Tiberius Coin from the thousands that have no reference value, the company plans to […]
As reported by Bloomberg Crypto, “Swiss asset manager and commodities trader Tiberius Group AG is stepping into the $215 billion digital coin market by offering a new token backed by seven metals in a sale set for Oct. 1.
“Aiming to distinguish its Tiberius Coin from the thousands that have no reference value, the company plans to make a market in the asset so that its value holds close to that of a price of a basket of copper, aluminum, nickel, cobalt, tin, gold and platinum.
“Christoph Eibl’s 13-year-old investment company will enter a cryptocurrency panorama littered with failed projects giving assurances to buyers their coin’s value derives from more than just quasi-anonymity, a single reference asset like gold or a promise to not let issuance run wild.
“The effort is led by the company’s Tiberius Technology Ventures AG arm in Baar, Switzerland, a nation that’s cutting one of the world’s more liberal profiles for embracing privately issued money.
“’Instead of underlying the digital currency with only one commodity, we have chosen a mix of technology metals, stability metals and electric vehicle metals,’ the unit’s Chief Executive Officer Giuseppe Rapallo said in an interview. ‘This will give the coin diversification, making it more stable and attractive for investors.’”