Commodities fund Tiberius is seeking to underpin a new world of digital currency transactions with a bullish future for industrial and precious metals, by launching a physical metals-backed cryptocurrency called Tiberius Coin.
The fund, based in Zug in Switzerland, has more than $300 million of assets under management. In March, it will allow initial investment in the currency ahead of an ICO, or Initial Coin Offering, later this year.Tiberius Coin, or "Tcoin," will be backed by a basket of physically warehoused metals, from cobalt to copper and gold, and comes amid a global wave of interest in digital currencies from the financial community and retail investors alike."We are offering a solution that someone can pay for their coffee in 20g of copper, 10g of [aluminium] and 5g of zinc," fund founder and chief executive officer Christoph Eibl...