Tiberius Group plans to launch a cryptocurrency backed by industrial metals

Swiss investment fund Tiberius Group, specializing in commodity markets, plans to launch its digital currency Tcoin

The main difference between Tcoin and Bitcoin and other cryptocurrencies will be the physical backing of the coin with non-ferrous metals, including aluminum and copper. According to Tiberius Group CEO Christoph Eibl, the possibility of physically exchanging Tcoin for metals can reduce its volatility. 

“We want to offer a digital currency with real, tangible net value,” Able said.

Backing cryptocurrencies with tangible assets is becoming increasingly common. Virtual currencies are supported by oil, gold, real estate, oil depositsor diamonds. It is planned that Tcoin will become the first digital asset that can be exchanged for real supplies of non-ferrous metals.

The Tiberius company has a leading position in the market of raw materials and industrial metals. This allows developers to hope for the successful advancement of the project. The founder of the analytical portal Crypto Compare, Charles Hayter, believes that Tcoin has every chance of success and, unlike the decentralized Bitcoin, which does not have a single control center, Tiberiumcoin will be under the control of the largest corporation.

Christoph Eibl believes that Tcoin will find its application in investments and preventing inflation. For these purposes, a program is being developed with three versions of cryptocurrencies, differing in different investment plans and combinations of metals. For example, support for aluminum, nickel and cobalt is used to invest in the production of electric cars, and tcoin backed by gold, platinum and precious metals is aimed at hedging the risks of inflation and volatility in the stock market. 

According to hightech