Metals.io Launches Copper Tokens Backed by Physical Metal in Germany

Metals.io, a firm that previously tokenized uranium, gold, cobalt and nickel, has begun testing a copper‑backed token.

What the new token represents

xCu tokens are issued at a one‑to‑one ratio with refined copper, each token equating to one kilogram of the metal.

The company released 25,000 tokens, stored in a warehouse in Hamburg, Germany.

The initial issuance is valued at about $366,000.

Company perspective

Ben Elvidge, head of alternative assets at Trilitech and leader of Metals.io, said the firm is “deliberately starting small to test the water and build sustainably” while aiming for a larger dollar value in the future.

How the tokens differ from other copper investments

Unlike buying shares in copper miners or futures contracts, owning an xCu token gives direct ownership of physical copper already refined and stored.

Token holders can trade the assets at any time, with no minimum purchase requirement.

Redemption details

Token owners may redeem tokens for physical copper if they have an appropriate storage account and satisfy identity and anti‑money‑laundering checks.

The smallest redeemable amount is one sheet of copper, weighing roughly 125 kilograms.

Trust and oversight

Archax, a regulated digital‑asset platform operating in the U.K., the U.S., the EU and the UAE, serves as trustee, confirming that the copper inventory matches the circulating token supply.

Market context

Metals.io already offers five other tokenized metal products. The copper token’s initial market value already exceeds the combined value of its nickel, cobalt and rare‑earth offerings.

While gold‑backed tokens such as Tether’s XAUT and Paxos’ PAXG exist, copper tokenization remains a smaller niche. The launch also differs from Bridgetower’s Arizona project, which involves unextracted mineral resources.

Future outlook

Elvidge noted that further copper token issuances will depend on investor demand, and that the company continues to explore tokenized equities with varying issuer models.

Metals.io’s copper token launch adds a new physical‑asset option to the growing digital‑asset market.