Rhodium is a rare, silvery-white metal that is highly reflective and resistant to corrosion. It is a member of the platinum group of metals, which also includes platinum and palladium. Rhodium is extremely rare, with only a few thousand tons produced each year. With it currently trading for around $14,000 per troy ounce, it is the most valuable metal.
Rhodium is used in a variety of industrial applications, including:
- Catalytic converters: Rhodium is a key component of catalytic converters, which are used in automobiles to reduce emissions of pollutants.
- Electronic components: Rhodium is used in the production of electronic components such as capacitors, resistors, and semiconductors.
- Jewelry: Rhodium is used in the production of jewelry, often as a high-end alternative to gold or silver.
- Mirror coatings: Rhodium is used in the production of high-quality mirror coatings due to its reflective properties.
- Chemical processing: Rhodium is used in a variety of chemical processes, such as hydrogenation, dehydrogenation, and hydroformylation.
xMetals offers an easy and efficient way to own and trade Rhodium. Every xRhodium(xRH) token is backed by 1 troy ounce of allocated, investment grade, Rhodium that is held in secure, world-class, storage facilities. Users are even able to redeem their tokens for physical Rhodium bars, in addition to being able to freely transfer their tokens 24/7/365. xMetals aims to democratize the precious metals industry through tokenization and increased transparency.
