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Tezos launches world’s first blockchain-based uranium marketplace

Tezos launches world’s first blockchain-based uranium marketplace

GrafaGrafa2024/12/04 03:20
By:Isaac Francis

Tezos (CRYPTO:XTZ) has launched the world’s first blockchain-based uranium marketplace, Uranium.io, to make uranium trading more accessible to retail investors.

The platform, built on the Tezos blockchain, is a decentralised application designed to lower entry barriers for investors in the uranium market.

Uranium.io is being developed in partnership with Curzon Uranium, a prominent uranium trading company, and Archax, the first registered cryptocurrency exchange in the United Kingdom.

Arthur Breitman, co-founder of Tezos, emphasised the potential of blockchain to enhance transparency and accessibility in the uranium market.

“Unlike many proposed blockchain use cases, the Uranium market actually benefits substantially from having a shared, transparent, globally accessible ledger,” Breitman said.

The new platform is expected to open up uranium trading, which was previously restricted to institutional investors, to retail investors.

Previously, retail access to uranium investments was possible only through exchange-traded funds (ETFs).

Uranium.io is part of a broader trend of tokenising real-world assets (RWA), where tangible commodities are converted into digital tokens on the blockchain to improve accessibility and liquidity.

Blockchain technology can streamline uranium trading by reducing the barriers to entry and automating processes through smart contracts.

Breitman explained that blockchain’s global reach enables anyone to participate in the market without the need for complex international banking relationships or contractual frameworks.

Uranium purchased on the platform will be stored as physical Triuranium octoxide (U3O8) at a regulated depository operated by Cameco, a leading uranium provider.

The launch of Uranium.io comes amid growing global demand for uranium, driven by the increased need for nuclear energy to power energy-intensive applications such as artificial intelligence.

Breitman believes that if successful, Uranium.io could serve as a model for other commodity markets.

At the time of reporting, the Tezos price was $1.71.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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