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Trading physical uranium is not as straightforward as trading many other commodities.
Physical uranium trades in a specialised and regulated market, usually in large lot sizes, with settlement processes that can take weeks. Its market structure also requires specialist custody and storage arrangements, which adds operational complexity to the transfer and management of physical uranium ownership.
The Zuri-Invest Tracker certificate for Physical Uranium was designed to address these operational complexities for them.
The Tracker, by using xU3O8 as its underlying asset, provides exposure to physical U3O8 held in regulated storage. xU3O8 evidences beneficial ownership interest in physical uranium held by Zuri-Invest. This enables Zuri Invest to acquire ownership rights in physical uranium digitally, benefiting from fractional ownership and faster settlements.
Why is physical uranium difficult to invest in?
The physical uranium market was built primarily for utilities, producers, and specialist traders.
Transactions are typically conducted in standard lots of around 100,000 lbs, representing several million dollars of uranium at a time. Settlement and payment cycles can also take around 10 - 15 days.
These conventions work for industrial buyers purchasing uranium for long-term reactor requirements. They are less suited to an investment product where investors may want to enter or exit positions more frequently.
What is the Tracker certificate for Physical Uranium?
The Zuri-Invest Physical Uranium Tracker is designed to follow the value of physical U3O8.
Instead of buying uranium directly, investors buy units in the Tracker through their existing bank or investment account. The product's Net Asset Value is calculated daily and is designed to track the physical uranium market closely. This gives investors exposure to the uranium price without having to arrange physical transactions, specialist storage, or custody themselves.
Their rights are governed by the Tracker’s product documents. Learn more: https://zuri-invest.ch/en/products/uranium-tracker
How xU3O8 fits into the structure
xU3O8 represents beneficial ownership of physical uranium held in regulated storage.
Instead of needing to move or transact the physical uranium every time ownership changes, the ownership entitlement can move digitally.
For the Tracker, this means the underlying uranium can remain in storage while Zuri Invest acquires ownership interests more efficiently.
How the Tracker works
The structure has 4 main parts:
- Investor: The investor subscribes using cash from their bank account and receives units in the Tracker. When they redeem, the process works in reverse and cash is returned
- Tracker: The Tracker uses investor capital to obtain exposure to xU3O8, which represents rights to physical uranium. As Tracker units are created or redeemed, the underlying position can be adjusted accordingly
- Custody and ownership: The xU3O8 tokens are held on behalf of the issuer by the custodian (Archax). Through the token's smart-contract structure, those tokens correspond to ownership entitlements in physical U3O8
- Physical storage: The underlying uranium remains stored at Cameco's regulated facility. The physical material does not need to move when ownership changes. Instead, the associated ownership rights are transferred
Making the uranium ownership more transferable and efficient, rather than relying on large physical transactions and multi-week settlement cycles, is a pivotal role of xU3O8 within the product.
The uranium itself stays where it is. The ownership moves digitally with faster settlement.
Bringing traditional and digital markets together
The Zuri-Invest Tracker certificate for Physical Uranium is a great example of how tokenization technology can support a conventional financial product.
At the investor level, the experience remains familiar.
At the underlying asset level, digital infrastructure can improve how ownership of physical uranium is transferred and managed.
For a commodity that is difficult to move, highly regulated, and traditionally traded in large lots, that distinction matters.
Learn more: https://zuri-invest.ch/en/products/uranium-tracker
For issuers developing physical uranium products, xU3O8 can provide the underlying infrastructure. Get in touch at info@metals.io to discuss how it could support your structure.
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Metals.io
Tokenized commodities on Tezos: uranium, gold, strategic metals and more
Tokenized commodities on Tezos: uranium, gold, strategic metals and more Keep Reading...
Overview
Metals.io is a unified real-world asset platform built on Tezos infrastructure, designed to simplify access to physically backed commodities through blockchain tokenization. It enables investors to gain exposure to uranium, gold, and strategic metals through a single digital interface, reducing fragmentation, limited accessibility, and opacity traditionally associated with commodity markets.
The platform builds on the foundation of tokenized uranium and expands into a broader multi-asset framework aligned with growing global demand for critical resources. Uranium remains central due to its role in nuclear energy and long-term decarbonization efforts, while gold continues to function as a global store of value in periods of macroeconomic uncertainty.
Alongside these core assets, Metals.io incorporates exposure to strategic and rare earth metals that are increasingly vital to modern industrial systems. These materials underpin semiconductors, electrification, defense technologies, and AI-driven infrastructure, reflecting their growing importance in global supply chains.
By integrating blockchain infrastructure with real-world commodity markets, Metals.io enables fractional ownership, real-time settlement, 24/7 global trading access, and programmable financial utility. The platform represents a streamlined gateway to tokenized commodities that are central to both energy transition and technological advancement.
As of October 2026, the company allows access, ownership and trading of six metals: uranium (xU3O8), gold (VNXAU), a diversified strategic metals basket (RARE), cobalt (xCo), nickel (xNi) and copper (xCu). Cobalt and nickel were added in June 2026, followed by copper in October 2026. The company said it continues to strengthen its position as the “go-to destination for the buying and selling of critical infrastructure metals driving the low-carbon revolution to AI technologies.”
Company Highlights
- Multi-Asset Commodity Platform: Provides access to tokenized uranium (xU3O8), gold (VNXAU), a diversified strategic metals basket (RARE), cobalt (xCo), nickel (xNi) and copper (xCu) through a single interface
- Built on Tezos: Utilizes Tezos smart-rollup technology to enable scalable, low-latency and energy-efficient real-world asset tokenization.
- Physically Backed Assets: Tokens represent ownership of underlying physical commodities or allocated reserves, ensuring a direct link between digital assets and real-world supply.
- Institutional-Grade Custody: Archax, an FCA-regulated digital asset custodian, provides secure and compliant custody, with uranium stored in regulated facilities operated by Cameco and physical nickel, cobalt, and copper stored at industry-certified bonded warehouses in the Netherlands.
- Established Supply Chain: Curzon Uranium supports sourcing and logistics for uranium; Steinweg / C. Steinweg are physical custodians of the underlying cobalt, nickel and copper;while VNX and Noemon Tech contribute gold and strategic metals exposure.
- Global Market Access: Enables 24/7 access to tokenized commodities through digital asset infrastructure, supporting broader investor participation.
- Enhanced Market Transparency: Integrates pricing and data systems aimed at improving visibility in traditionally opaque commodity markets.
- On-Chain Financial Utility: Tokenized commodities can be used within decentralized finance applications, enabling liquidity access without selling underlying assets.
- Aligned with Global Demand Trends: Provides exposure to commodities central to nuclear energy, monetary hedging, industrial production, and advanced technologies, including AI and electrification.
Latest Press Releases
October 29, 2026
Metals.io Launches Copper, Unlocking Access to the Critical Metal at the Heart of Electrification
Key Assets
xU3O8 – Tokenized Uranium
xU3O8 provides direct exposure to physically backed uranium ore concentrate, a core input in nuclear energy generation. Each token represents ownership of uranium stored in regulated facilities, enabling fractional access to a historically institutional market.
Uranium plays a critical role in the global energy transition as nuclear power expands to meet rising electricity demand and decarbonization targets. xU3O8 enables investors to participate in this sector through a transparent, digitally accessible structure linked to physical supply.
On July 2026, Metals.io announced that xU3O8 is now available for trading on global crypto platforms Kraken and Kraken Pro. Aside from the Metals.io website, xU3O8 is also accessible via Gate, KuCoin, MEXC, Bitrue, LBank, BingX, the decentralized exchange Hanji and uranium.io.
The company highlighted the value of access to uranium with fractional ownership, no minimums, 24/7 global availability and near-instant settlement, providing individual investors with ownership options amidst the growing global electricity demand.
xCo - Tokenized Cobalt
xCo enables investors to own and trade physical cobalt in an investment-friendly and transparent manner by administering fractional ownership of physical cobalt in the form of a smart contract ledger. Each xCo represents a right of ownership of cobalt held by Archax as a trustee for investors.
Over 70% of cobalt comes from one country. Supply is tightening as the DRC (Democratic Republic of Congo) caps exports at 96,600 metric tons per year. Global EV (Electric Vehicle) battery demand is projected to increase cobalt consumption.
xNi - Tokenized Nickel
xNi enables investors to own and trade physical nickel in an investment-friendly and transparent manner by administering fractional ownership of physical nickel in the form of a smart contract ledger. Each xNi represents a right of ownership of nickel held by Archax as a custodian for investors.
Nickel powers the modern industry, essential for stainless steel and increasingly critical for EV (Electric Vehicle) batteries. Indonesia controls over 60% of supply and is tightening quotas. Trade restrictions, export bans, and policy shifts influence price movements, making real-time investment access vital.
xCu - Tokenized Copper
xCu enables investors to own and trade physical copper in an investment-friendly and transparent manner by administering fractional ownership of physical copper in the form of a smart contract ledger. Each xCu represents a right of ownership of copper held by Archax as a trustee for token holders.
Copper is the metal at the heart of electrification, essential for EVs, AI data centers, power grids, and renewable energy. Demand is forecast to grow 50% by 2040, while new mine supply takes 17+ years to come online. Unlike some metals, where substitution offers a safety valve, copper's conductivity properties make it difficult to replace in most applications.
VNXAU – Tokenized Gold
VNXAU represents allocated physical gold stored in secure, regulated vaults. Each token reflects direct ownership of gold reserves, combining the stability of gold as a traditional store of value with the efficiency and divisibility of blockchain infrastructure.
Gold continues to serve as a hedge against inflation, currency volatility, and macroeconomic uncertainty. Tokenization enhances accessibility and transferability while preserving full physical backing.
RARE – Strategic Metals Basket
RARE provides diversified exposure to strategic and rare earth metals essential to modern industrial and technological systems. The basket includes metals used in semiconductors, renewable energy infrastructure, defense technologies, and advanced manufacturing.
As global supply chains tighten and demand accelerates for critical inputs, strategic metals have become increasingly important to economic and technological resilience. RARE enables diversified exposure through a single tokenized instrument.
Key Technology Platform
Tezos / Etherlink Infrastructure
Metals.io is built on Tezos smart-rollup architecture via Etherlink, enabling high-speed execution, low latency, and scalable tokenization of real-world assets.
Physically Backed Asset Framework
Each token is backed by physical commodities or allocated reserves, ensuring verifiable linkage between digital assets and underlying real-world holdings across uranium, gold, and strategic metals.
Institutional Custody & Supply Chain
- Archax provides FCA-regulated custody
- Cameco-operated facilities store uranium reserves
- Curzon Uranium manages sourcing and logistics
- VNX supports allocated gold issuance structures
Market Infrastructure
Metals.io incorporates pricing and transparency systems designed to improve visibility in historically opaque commodity markets, particularly uranium and strategic metals.
On-Chain Utility
Tokenized commodities can be used as collateral in decentralized finance applications, enabling access to liquidity without requiring asset liquidation; currently available for Uranium and being expanded to other metals.
Metals.io Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects