Crypto Investors Can Now Buy Copper – Delivery Has a Catch

Metals.io has issued 25,000 xCu tokens, each linked to a kilogram of refined copper, with the whole issue valued at roughly $366,000 in a launch reported on November 2. The tokens are described as beneficial ownership of copper held through Archax, a UK-regulated digital asset platform acting as trustee, while C. Steinweg Hamburg stores the cathodes and London-based Trilitech runs the trading interface. Buying tokens has no minimum, but taking physical delivery requires an approved custody account and identity and anti-money-laundering checks. The redemption threshold is unsettled: an interview cited about 125 kilograms, one cathode sheet’s weight, while a draft whitepaper described warehouse minimums typically of a 25-tonne lot, and the product page gives no fixed figure.