Tokenized uranium: Uranium3o8 ($U) is the first token physically backed by uranium

Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day’s top stories directly to your inbox. Sign up here! ( Kitco News ) – The tokenization of vital commodities is now underway as Sanmiguel Capital Investment, a financial advisory firm assisting in the tokenization of real-world assets, has announced the launch of Uranium3o8 ($U), the first token to be physically backed by uranium.

Sanmiguel Capital Investment partnered with Madison Metals Inc. to launch $U, which is physically backed by one pound of uranium per token through a forward sales agreement between the two companies.

“Uranium3o8 is the beginning of a new chapter for uranium, and for our firm,” said Madison Metals CEO Duane Parnham. “Tokenization is the next great advancement in the mining industry, and we’re excited to be part of this charge.”

$U is the first digital token […]

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