Hex Trust Launches Custody for Tokenized Uranium xU3O8

TLDR

• Hex Trust introduces custody for tokenized uranium xU3O8.
• xU3O8 is supported by Etherlink, enhancing institutional access.
• Collaboration with Trilitech strengthens Tezos ecosystem integration.

Hex Trust has announced a new addition to its suite of services by offering institutional custody for tokenized uranium, known as xU3O8. This asset is issued on Etherlink, an EVM-compatible Layer 2 built on Tezos, and the integration was supported by Trilitech, the team behind Etherlink and the Tezos R&D and adoption hub.

The introduction of custody for xU3O8 represents Hex Trust’s continued efforts to expand its digital asset custody offerings. Giorgia Pellizzari, Head of Custody at Hex Trust, stated, “Tokenised commodities like uranium are gaining institutional interest as more real-world assets move on-chain.” The tokenized uranium, xU3O8, is listed on multiple exchanges, enhancing its accessibility and appeal to institutional investors.

Collaboration and Technological Support

Hex Trust’s integration for Etherlink and the custody of xU3O8 was accomplished with the assistance of Trilitech, a significant player in the Tezos ecosystem. Ben Elvidge, Head of Commercial Applications at Trilitech, remarked, “We’re really excited to see Hex Trust embracing xU3O8… Having a proper regulated custodian like Hex Trust in the mix just makes it that much easier for institutions to dip their toes in the water.”

Etherlink’s role as an EVM-compatible Layer 2 solution built on Tezos is crucial for the advancement of on-chain commodity tokenization, making it an ideal platform for hosting xU3O8. This collaboration underscores the interoperability of Tezos and the expansion of its ecosystem with innovative digital assets.

Implications for Digital Commodity Custody

The announcement does not specify any new funding or grants associated with this integration, nor does it provide details on the financial implications such as capital allocation. However, it highlights Hex Trust’s aim to provide institutional-grade custody that adheres to regulatory and compliance standards. While no new licenses or regulatory approvals were mentioned, the focus on licensed custody is clear.

This development does not include changes in on-chain metrics like Total Value Locked (TVL) or liquidity shifts for Etherlink/Tezos or xU3O8. The announcement was grounded in offering institutional custody for the tokenized asset without quantifying market impacts. Furthermore, the statement does not detail any direct impacts on BTC, ETH, or any other specific cryptocurrencies.

Strategic Positioning in the Digital Asset Sphere

Hex Trust and its partners continue to position xU3O8 as a prominent example of real-world asset (RWA) tokenization. The move aligns with a broader strategy within the digital asset space to tokenize more commodities, providing greater access and security to institutional investors.

The integration experience with Etherlink positions Hex Trust and the Tezos ecosystem favorably, especially as they tap into innovative financial instruments like tokenized uranium. This strategic positioning underscores the potential for further expansion into the tokenized asset class.