London-based Tezos ecosystem development firm Trilitech has introduced Uranium.io, a new marketplace offering tokenized uranium backed by physical uranium oxide (U3O8), commonly known as “yellowcake.” The platform operates on Etherlink, an Ethereum Virtual Machine (EVM)-compatible layer-2 network built on top of the Tezos blockchain.
The project collaborates with U.K.-regulated digital asset firm Archax, which serves as the custodian for the underlying assets and oversees the creation of the tokens. The physical uranium is stored and maintained in a regulated depository at Cameco, one of the world’s largest uranium producers.
Bringing Uranium Trading to Retail Investors
Traditionally, uranium trading has been confined to over-the-counter markets, limiting access for retail investors. Arthur Breitman, director of Trilitech and co-founder of the Tezos blockchain, told CoinDesk that moving ownership representation to blockchain technology reduces friction and opens up investment opportunities for average investors. “This is particularly exciting as nuclear power is experiencing a revival,” Breitman said.
The platform allows investors to buy, own, and trade physical uranium with no minimum purchase required. Uranium.io aims to provide a direct and transparent way to invest in uranium, offering 24/7 global trading access.
Growing Demand for Nuclear Energy
Uranium is crucial for energy production, fueling nuclear power plants worldwide. The metal is seeing increasing demand as more countries recognize the benefits of transitioning to nuclear energy to meet global net-zero carbon targets. Uranium.io seeks to capitalize on this trend by making uranium investment more accessible.
Ensuring Value Anchoring
To maintain the token’s value alignment with the physical metal, Uranium.io has secured approximately 1.6 million ounces of uranium oxide stored at Cameco. Commodity trading firm Curzon Uranium provides access to primary markets for the ore, further supporting the tokenization process.
Previous Attempts and Challenges
This is not the first initiative to bring uranium trading onto blockchain platforms. Last year, Uranium3o8 launched a uranium-linked token on the decentralized crypto exchange Uniswap, backed by a forward sales agreement with a mining company. However, the token eventually decoupled from physical uranium prices and declined significantly, highlighting the challenges in creating a stable tokenization structure.
Industry Perspectives
According to a recent CoinDesk article, “Uranium is seeing increasing demand as more countries recognize the benefits of transitioning to nuclear fuel as part of net-zero carbon targets being set globally.”
Uranium.io’s launch reflects a growing interest in tokenized real-world assets within the crypto markets. By leveraging blockchain technology, the platform aims to offer cheaper transaction costs, faster settlements, and broadened investor access to commodities like uranium.
Accessible Uranium Investment
The introduction of Uranium.io marks a significant step in making uranium investment more accessible to a wider range of investors. By utilizing the Tezos blockchain and collaborating with industry leaders like Archax and Cameco, the platform seeks to offer a secure and transparent way to invest in physical uranium.
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