Metals.io launches copper-backed tokens in Germany as it tests investor demand

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Metals.io copper token launch

Highlights

Metals.io launched 25,000 xCu tokens backed by 25 tonnes of refined copper stored in Hamburg, allowing 24/7 trading and physical redemption.
The platform plans to scale to millions of dollars in tokenized copper over the next year, starting small to test demand and ensure sustainable growth.
S&P Global forecasts global copper demand could rise 50% by 2040, supporting Metals.io's move to broaden investor access amid expanding power grid and EV markets.

Token launch targets physical copper ownership

As reported by CoinDesk, Metals.io has introduced xCu as a tokenized product tied to copper already held in storage in Hamburg, Germany, rather than to mining assets or futures exposure.

The company says the 25,000 tokens are backed by 25 tonnes of refined copper, and buyers can trade them around the clock with no minimum investment. Holders can also redeem tokens for physical metal if they have an appropriate storage account and complete identity and anti-money laundering checks.

Ben Elvidge, head of alternative assets at Trilitech, the London-based Tezos development company behind Metals.io's trading platform, says the company wants to build toward millions of dollars in tokenized copper over the next year but is starting on a smaller scale to test demand and grow sustainably. He adds that xCu represents ownership of branded copper cathodes in Hamburg, emphasizing that the product is backed by refined metal already in storage.

Each sheet of refined copper weighs about 125 kilograms, setting the minimum amount that investors can physically redeem.

Market positioning in tokenized metals

The launch comes as copper demand is expected to increase with the expansion of power grids, electric vehicles and AI data centers. S&P Global projects global copper demand could rise 50% by 2040, giving Metals.io a wider industry case for broadening investor access to the metal.

Archax, a regulated digital asset platform based in the UK, acts as trustee and verifies that the copper held matches the circulating token supply. The platform already offers five other tokenized metals products, including uranium, gold, cobalt and nickel.

Tokenized metals already have established examples in gold through products such as Tether's XAUT and Paxos' PAXG, but copper remains a smaller blockchain investment niche. Metals.io's approach also differs from Bridgetower's Arizona copper-gold tokenization project because it is based on refined metal already extracted and stored, while future xCu issuance depends on investor demand.

Our earlier article on the U.S. AI data center boom examined how soaring buildout plans are colliding with higher financing costs, construction delays, and power constraints. We noted that only a minority of proposed projects look truly viable, with cost overruns and local grid limitations raising the risk that developers struggle to deliver capacity on time and maintain investor confidence.

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