Cryptocurrencies
Tiberius Offers Crypto Coins Backed by Seven Commodities
- Company to make a market in token to anchor value to metals
- Swiss project takes path that’s been difficult for precursors
Photographer: Daro Sulakauri/Bloomberg
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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.