Commodities Fund Tiberius Group to Launch Tiberius Coin
Commodities fund Tiberius Group has made a very interesting announcement. The company, which is based in Switzerland, said that it plans on releasing a new cryptocurrency which will be called the Tiberius Coin.
The Tiberius Coin will be backed by metals
Tiberius Group has become quite well-known for managing investments in energy, precious metals, agricultural derivatives, as well as industrial metals. These commodities are without a doubt some of the most stable ones possible, so a cryptocurrency based on them might also become very stable.
Maybe, Tiberius Group will be able to overcome some of the main issues associated to cryptocurrencies, which are linked to a very high volatility. It has been revealed that the Tiberius Group will be launching several different versions of its Tiberius Coin, which will be based on the use of the underlying metal.
This means that one version of the digital coin will be based on rare metals, while another will be based on cooper, tin and zinc. There will also be a third version, which will be based on aluminum, nickel and cobalt.
Tiberius Group is not the first company to reveal intentions to release its own cryptocurrency backed by a real product. Kodak did the same, as well as PowerLedger. Also, it is important to mention that the Tiberius Coin will not be the first digital currency backed by metals. Goldmint in Russia, as well as DigixGlobal in Singapore released similar digital currencies.
Tiberius Group might be successful on this aspect, as the company is already a preferred one when it comes to institutional clients, experienced investors and mature management. The company stated that it will make the launch after all the legal requirements in Switzerland are met. Tiberius Group might start to expand the use of the new cryptocurrency after.