It seems like the Swiss have always gotten the hinge for markets and business. This year, Switzerland-based commodities fund named “Tiberius Group” has confirmed that with plans on becoming one of the few traditional finance firms that will try their hand at cryptocurrencies.
Their entry includes offerings based on big instruments in the crypto space including Bitcoin Futures, new cryptocurrency exchanges as well as big optimism for banks in the world that will likely embrace the entire blockchain revolution.
What’s interesting is that this new commodity fund will be backed by commodities such as “energy, industrial metals, precious metals, and agricultural derivatives”. The announcement came today and Tiberius Group said that they are officially launching their own cryptocurrency named the Tiberius Coin.
As you would guess, the metals that are underpinning these assets will be stored in warehouses and refineries around the globe. This move is aimed at securing the cryptocurrencies that are under the wing of the exchange. The current assets of Tiberius Group are now valued at around $300 million which is a big sum to begin with.
From all this, it is safe to say that the trend of cryptocurrencies backed by real-world products is seen more and more every day. There is PowerLedger which is commoditizing power, Goldmint as well as Singapore’s DigixGlobal and many similar exchanges.
However, Tiberius Group is a Swiss company which definitely boosts some trustworthiness when it comes to international investing. Unlike many cryptocurrency startups, they are a mature company with many institutional clients.
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