Tiberius Group, a Switzerland-based asset management company is about introducing a cryptocurrency backed by several precious metals.
Tiberius Group intends to issue a blockchain-powered Tiberius Coin, the price of which will be directly related to the price of copper, nickel, aluminum, cobalt, tin, gold, and platinum. The coin’s supply will be based on demand and limited by the availability of the metals.
“Instead of underlying the digital currency with only one commodity, we have chosen a mix of technology metals, stability metals and electric vehicle metals. This will give the coin diversification, making it more stable and attractive for investors,” Giuseppe Rapallo, CEO at Tiberius Technology Ventures AG, which will lead the product, told.
Tiberius Coin will be listed to Estonian exchange LATOKEN, trading will start on November 1st.
Earlier this month, Google announced intention to review its ad policy in October, lifting advertising ban on its platform for some crypto businesses. Since October, registered cryptocurrency exchanges will be able to advertise on Google Adwords platform within the U.S. and Japanese audiences, according to the announcement. For this, advertisers will need to pass Google Adwords’ mandatory certification. Applications can be submitted from Monday, when the new rules will take effect.