Metals.io launches copper-backed xCu tokens stored in Germany

Metals.io, the tokenization firm behind onchain uranium, gold, cobalt and nickel products, has launched xCu — 25,000 tokens, each backed by one kilogram of refined copper held in a Hamburg warehouse, worth about $366,000 in total. The tokens trade around the clock with no minimum investment; physical redemption requires at least 125 kilograms (one cathode sheet), a suitable storage account and identity/AML checks.

• Archax, the U.K.-regulated platform, acts as trustee and verifies the stored copper matches circulating supply.
• The trading platform and infrastructure were built by Trilitech, the London-based Tezos development company; Metals.io head Ben Elvidge says the firm deliberately started small and hopes to reach millions of dollars of tokenized copper over the next year.
• Copper's initial market value already exceeds Metals.io's combined nickel, cobalt and rare-earth products; the launch rides expectations of rising copper demand from power grids, EVs and AI data centers, with S&P Global projecting demand up 50% by 2040.