Digital asset custody firm Hex Trust has partnered with Etherlink, an Ethereum Virtual Machine (EVM)-compatible layer 2 built on Tezos, to offer institutional custody services for xU3O8, a tokenized uranium asset on the network.
The collaboration is supported by Trilitech, the research and development (R&D) adoption hub for Tezos and creator of Etherlink. Trilitech is working alongside Hex Trust to provide institutional clients access to xU3O8 and other assets on the Etherlink platform, as per an announcement shared with Cointelegraph on Tuesday.
Giorgia Pellizzari, head of custody at Hex Trust, commented, “Tokenized commodities like uranium are gaining traction among institutional investors as more real-world assets transition to blockchain technology.”
xU3O8, listed on various exchanges, enables users to invest in physical uranium – U308, a product derived from mined and milled uranium ore. The token is backed by Curzon, a uranium trading firm, and Archax, a UK-regulated exchange.
xU3O8 price. Source: CoinMarketCap
Related: Transak, Uranium.io partnership enables users to purchase tokenized uranium with cryptocurrency
Hex Trust Expands Real-World Asset Services to Uranium
The addition of uranium to its offerings extends Hex Trust’s services in real-world assets (RWAs) to a commodity that has been traditionally challenging for institutions to access.
Ben Elvidge, head of commercial applications at Trilitech, stated that uranium is an ideal candidate for tokenization due to issues with market access and pricing transparency.
“Blockchain technology now allows us to address these challenges. With a reputable custodian like Hex Trust onboard, institutions can more easily explore this asset class,” Elvidge added.
Hex Trust holds licenses in Hong Kong, Singapore, Dubai, and Italy. In the previous year, the company announced that it had received in-principle approval from the Monetary Authority of Singapore for a major payment institution (MPI) license.
Related: RWA token market sees 260% growth in 2025 as companies embrace cryptocurrency regulation
Uranium.io Introduces Onchain Uranium Trading
Last year, Uranium.io launched on the Tezos blockchain as the world’s first decentralized application for uranium trading. The platform, developed in partnership with Curzon Uranium and Archax, aims to democratize access to the global uranium market, historically dominated by institutional investors.
Prior to this initiative, retail investors had limited options to invest in uranium, mainly through ETFs, as direct trading was reserved for big players with substantial capital.
Earlier this year, Transak collaborated with Uranium.io to allow retail investors to purchase tokenized uranium using cryptocurrencies or credit cards for as low as $10, significantly lower than the minimum requirement of $4.2 million in the over-the-counter market.
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