Uranium asset-backed token Uranium3o8 ($U) goes live on Uniswap

Sanmiguel Capital Investment Ltd., a financial advisory firm that assists in the tokenization of RWA (real world assets), has announced the launch of Uranium3o8 ($U), a token backed by uranium assets, which has been listed on Uniswap. Uranium3o8's goal is to create a heavy metal spot market that allows for effective price discovery and dynamic pricing based on actual supply and demand to unlock new liquidity for commodities. Each token represents one pound of physical uranium. Token holders must meet strict regulatory requirements to take physical delivery of commodities. Recipients must hold at least 20,000 $U tokens (equivalent to 20,000 pounds of uranium) and be able to prove to resource partner Madison Metals that they are eligible to receive the tokens in accordance with local laws and regulations. Physical delivery is handled by Madison Metals. Once the actual delivery is completed, the tokens associated with the delivered uranium are destroyed. The Uranium3o8 team is only responsible for the issuance and management of tokens. (PR Newswire)