Tezos Launches Marketplace for Tokenized Uranium

The blockchain platform Tezos has unveiled the decentralized marketplace xU3O8 for trading tokenized uranium.

⚛️ Introducing @uranium_io! ⚛️

By leveraging a decentralized ledger and smart contract capability, tokenized uranium enables holders to own digitally allocated yellowcake uranium stored in a robust physical vault. ?

Available on @etherlink, the EVM-comptabile L2 blockchain… pic.twitter.com/gz99RAI5uk

— Tezos (@tezos) December 3, 2024

The project is implemented in partnership with the British crypto company Archax and industry trader Curzon Uranium.

“By using the capabilities of a decentralized ledger and smart contracts, tokens allow holders to own digitally physical uranium located in a secure vault,” the statement said.

The marketplace utilizes the EVM-compatible second-layer solution Etherlink based on Tezos technologies.

Curzon Uranium founder Nick Clarke told Reuters that there has been a surge of investor interest in uranium recently. This is driven by reduced production amid growing demand for nuclear energy from the AI sector.

Unlike gold or platinum, traded in small bars, uranium is offered in a minimum lot of approximately 22.7 tons, valued at over $4 million. Small market participants can access the metal through funds like Sprott or Yellowcake. However, shares of these structures traded on exchanges often deviate from the prices of the underlying asset.

According to Clarke, xU3O8 democratizes uranium investment. Tokens provide the opportunity to own a small share — the minimum purchase amount is not restricted.

Physically, the raw material will be stored at facilities of the Canadian producer Cameco.

Earlier, McKinsey projected the tokenized asset market to grow to $1.9 trillion by 2030.