There is something new to trade on the blockchain: uranium. But, why?
What’s happening:
- Crypto company Tezos has launched a new blockchain based platform for being able to directly purchase physical uranium
Why it matters:
- While individual investors have always been able to gain exposure to the price of uranium through ETFs, there has never been a seamless way to directly purchase uranium outside of the public markets
By the numbers:
- Traditionally, the minimum purchase of physical uranium has been 50,000 pounds which would cost approximately $3M USD at the current prices of uranium
- The new platform from Tezos will be accessible to trade on 24/7 and have no minimum purchase requirements
Going deeper:
- The physical uranium being held is being tokenized through smart contracts built on top of the Tezos blockchain and is therefore able to be sold in small, fractional quantities to individual investors
The intrigue:
- Nuclear fuel production giant Cameco (NYSE: CCJ) has been selected to securely store the physical uranium at one of their uranium production facilities and will provide proof of reserves
