World’s first uranium-backed digital token is now live on Uniswap

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 application of blockchain technology to the commodities sector continues to expand as Uranium3o8 ($U), the world’s first digital token backed by physical uranium, has gone live on Uniswap, the top decentralized exchange.

According to a release from Sanmiguel Capital Investment (Bahamas) Ltd., a financial advisory firm assisting in the tokenization of real-world assets, a liquidity pool for $U was added to the Uniswap interface, creating the first-ever spot market for buying and selling exposure to uranium. This will enable qualified entities to purchase and take delivery of the valuable commodity utilizing decentralized finance (DeFi).

“Until now, uranium transactions have been conducted off-market through complex negotiations that rely on opaque pricing and costly delays […]

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