
Alcum
Alcum is a tokenized commodity platform that lets users buy on-chain shares (xCUP) backed by physical copper stored in Madrid.

What is Alcum?
Alcum is a tokenized commodity platform run by Alcum AG, a Swiss SRO VQF-registered firm. Users exchange USDC for xCUP tokens that represent a share of 99.5%-purity copper held in a Madrid warehouse and hedged through StoneX. Smart contracts on Ethereum were audited by Halborn, and the vault holds about $130K of tokenized copper exposure. xCUP is described as a technical accounting representation of a physical asset, not an investment product.
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App store listings are independently reviewed and written by Alchemy using a combination of inbound submissions, editorial research, public project sources, and third-party directories, including ecosystem data from The Grid under the Open Database License, DefiLlama, DappRadar, Reown, and chain ecosystem pages.

