Swiss Cryptocurrency Backed by Seven Precious Metals Aims to Attract Risk-Wary Investors

Tiberius Group AG, a Swiss asset management company is launching a cryptocurrency backed by seven precious metals, in a first-such-instance.

The company handles over $350 million in investor assets and is one of the largest equity funds in Switzerland.

The token is complaint with Swiss law and shall be backed by copper, aluminum, nickel, cobalt, tin, gold, and platinum.

The team shall be led by Giuseppe Rapallo, the CEO of Tiberius Technology Venture, who stated the decision to back the token with seven metals is for diversification purposes, as well as hedging against risk in case a particular asset falls in price.

The token is made more lucrative for investors.

Supply shall be limited by the underlying reserves of metals owned by Tiberius.

Trading will commence on Estonia-based cryptocurrency exchange LaToken, as they offer relaxed clauses to list newer tokens and meet all minimum regulatory standards.

In the economies of Dubai, Malaysia, and other Islamic regions, several tokens backed by gold and silver have been to moderate local success.

Despite the innovative conceptualizations, industry observers express caution over gold and precious metal-backed cryptocurrencies launching in the market.

Cryptocurrency companies continue to lure investors with various features to set themselves apart from other crypto assets-which are criticized for not being backed by real-world commodities.