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A company that is changing the way the world mines bitcoin

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11911
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Finbold 2024-12-03 15:20:15

Uranium.io, a uranium trading dApp powered by Tezos, goes live

Uranium.io, a uranium trading dApp powered by Tezos, goes live

Uranium.io, a decentralized application ( dApp ) on Tezos ( XTZ ), is now live, as reported to Finbold on Tuesday, December 3. Since uranium has traditionally been locked behind institutional gates, Uranium.io seeks to make the chemical more accessible to investors. The platform is backed by Curzon Uranium, a global trading firm with over $1 billion in uranium transactions, and Archax, the first registered crypto exchange in the United Kingdom. A surge in uranium demand Global demand for uranium has been growing exponentially as more and more governments are pursuing net-zero emissions and turning to nuclear power as a more ESG-friendly solution . Likewise, the new artificial intelligence ( AI ) industry has been investing heavily in nuclear power to meet its growing energy needs. For example, Microsoft ( MSFT ) is eyeing the Three Mile Island reactor, Google ( GOOGL ) has partnered with Kairos Power, and Amazon ( AMZN ) recently invested $500 million in X-Energy Reactor Company. Unlike precious metals, uranium trading required over-the-counter deals with minimum lot sizes of 50,000 lbs, which amounts to a $4.2 million buy-in. Consequently, retail investors have typically had to rely on exchange-traded funds ( ETFs ). Uranium.io seeks to break price barriers by tokenizing physical uranium and moving ownership on-chain. This approach is expected to eliminate steep entry costs and give retail investors wider access to the chemical. Simplifying uranium trading The platform operates on Etherlink, a Layer-2 ( L2 ) blockchain leveraging Tezos Smart Rollups. Users can easily connect their wallets , complete an onboarding process, and purchase U3O8, also known as “yellowcake,” a key component in nuclear fuel production. Trade settlements and custody transfers are managed by smart contracts, which removes the need for intermediaries. All uranium traded on Uranium.io is stored by Cameco, a leading uranium provider. Bringing more real-world assets on chain According to VanEck, the market capitalization of institutional tokenized assets soared from near zero to over $300 million in 2023 . Arthur Breitman, Tezos co-founder, highlighted the innovation behind Uranium.io: “Real world assets on chain are compelling when they meaningfully reduce friction or enable new economic arrangements. The launch of uranium.io on Tezos is a perfect example – transforming a market previously restricted by massive lot sizes and OTC overhead into something accessible and composable. This is particularly exciting as nuclear power is experiencing a revival.” With Uranium.io, retail investors will have direct access to one of the world’s most critical commodities . The post Uranium.io, a uranium trading dApp powered by Tezos, goes live appeared first on Finbold .

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