Tezos Launches Platform for Trading Tokenized Uranium
Date: 2024-12-05 Author: Henry Casey Categories: BLOCKCHAIN
The Tezos blockchain platform has announced the launch of a decentralized platform xU3O8, designed for trading tokens backed by physical uranium. The project was made possible through cooperation with the British crypto company Archax and the Curzon Uranium trader.
According to the company, the use of blockchain and smart contracts allows investors to own a share of physical uranium in digital form. The material itself will be stored in secure storage, and all transaction information will be recorded in a decentralized registry.
The platform is based on the Etherlink second-layer solution, compatible with the Ethereum Virtual Machine (EVM), which ensures high performance and integration with the Tezos ecosystem.
Curzon Uranium CEO Nick Clarke noted that investor interest in uranium is growing amid growing demand for nuclear energy, including due to the increasing use of artificial intelligence technologies. The decline in mining volumes also increases the attractiveness of this resource for investment.
However, uranium, unlike other precious metals such as gold or platinum, is traded in much larger volumes - the minimum lot is about 22.7 tonnes, which is worth more than $ 4 million. For private investors, access to uranium is limited: they can use exchange-traded funds such as Sprott or Yellowcake, but their share prices often do not reflect the real value of the raw material.
The xU3O8 platform aims to change this situation, offering access to small shares of uranium through tokenization. There is no minimum threshold for investment, which makes the market more accessible to a wide range of participants.
