Metals.io’s copper tokenization launch backs 25,000 tokens with 25 tonnes

Metals.io’s copper tokenization launch gives investors ownership of metal already in storage—not shares in a miner or a futures contract. The platform has issued 25,000 xCu tokens , each backed by one kilogram of refined copper in Hamburg, Germany. Together, they represent 25 tonnes worth approximately $366,000 . Key takeaways xCu links digital ownership to refined copper held in Germany. Physical withdrawals start at approximately 125 kilograms and require compliance checks. Archax checks stored copper against the circulating token supply.

Source: The Cryptonomist