Swiss Commodity Fund launches its own cryptocurrency as supported by metals
The Swiss commodity Fund “Tiberius Group” plans to become one of the several traditional financial companies that will try their strength in the cryptocurrency.
The group, which actively manages investments in commodities, such as “energy”, “industrial metals”, “precious metals” and “agricultural derivatives”, today announced that they launch their own cryptocurrency, the Coin of Tiberius.
Coin of Tiberius
Group Tiberius seems to be trying to avoid the extreme volatility associated with many traditional cryptocurrencies, using counterweights so stable that they are sometimes used to hedge against inflation. The group plans to distribute several different versions of the coins when you start based on use of the base metal. One of them will contain rare metals, such as palladium, platinum and gold. The other will contain copper, tin and zinc, which are extremely common in industrial manufacturing. The third will be supported by Aluminium, Nickel and Cobalt, which are extremely common in cars.
Like most traditional products, metals, underlying assets will be stored in the warehouses and refineries around the world. The movement of the Fund is part of a growing trend to use cryptocurrencies as a tool of marketing and advertising, following the steps from Kodak. Although the coin is, of course, has serious benefits. Theory some investors anticipates that it will be traded due to interest in the retail trade that can make it untenable for the traditional client base of Tiberius: institutional investors.
What distinguishes Tiberius Group, so that trust of the firm to institutional investors. Unlike many startups with ICO, Tiberius is a mature company with institutional clients, diversified investment and skilled management.
Finally, Tiberius, the group plans to meet all regulatory requirements of Switzerland to start and probably extend they legal coverage to other countries in the coming months.