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Bloomberg: Who Needs Crypto Gold?

London, 28 September 2018 – Global finance news and data provider Bloomberg today contrasts BullionVault's 13-year success with the latest 'crypto currency' token backed by physical metals.

Swiss asset manager Tiberius "is stepping into the $215 billion digital coin market" with a new token backed by physical holdings of 7 different metals, Bloomberg says.

But "without the use of a blockchain," it goes on, "London-based BullionVault has since 2005 offered trading of vaulted metal to 70,000 clients around the world who transact peer-to-peer on an online platform.

"The company stores $1.5 billion worth of gold."

"There are dozens of firms who launched stablecoins linked to metals," Bloomberg then quotes BullionVault director of research Adrian Ash, "and so far none of them have gained any traction."

"They're trying to solve a problem that doesn't exist."

Read the full story on Bloomberg here:

Tiberius Offers Crypto Coins Backed by Seven Commodities

Source: 
Bloomberg

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