Uranium Digital raises $16.5 million Series A to trade tokenized uranium on Solana
In brief
- Uranium Digital raised $16.5 million in a Series A led by Blockchain Capital, per Crypto Briefing.
- Each token represents one pound of U3O8 yellowcake held in North American storage.
- Solana hosts the tokens; ConverDyn handles storage and Chainlink provides proof-of-reserves.
- Institutional traders, not retail investors, are the platform's target market.
How the tokens work
The tokens live on the Solana blockchain, and the uranium itself doesn't move. Ownership changes on-chain while the material sits in accredited storage facilities in North America. That's the whole model.
According to Crypto Briefing, ConverDyn handles storage and Chainlink provides proof-of-reserves (a system meant to verify that the uranium backing the tokens actually exists in the vault).
It's not a retail product.
The platform targets institutions, and it plugs into tools trading desks already use, including order management systems, prime brokers and FIX APIs.
The market it's trying to fix
Crypto Briefing describes a uranium spot market that still runs on phone calls and email. A buyer typically phones a broker for a price, contracts move around by email, and settlement can take two to three weeks (with pricing set through private negotiations between counterparties). Spot trades usually require a minimum of roughly 100,000 pounds, a ticket worth about $7 million to $8 million.
That's the backdrop for this raise.
The outlet also tied renewed interest in nuclear energy and uranium to the power demand coming from AI data centers. CEO Alex Dymala-Dolesky has said growing institutional attention on uranium is speeding up the company's timelines and strategic plans, per the report.
Who's backing it
Several returning backers took part in the round. Crypto Briefing lists Framework Ventures, Mirana Ventures, Portal Ventures, Knollwood Investment Advisory and Christian Angermayer among the company's backers.
This isn't the startup's first raise. Uranium Digital closed a $1.7 million pre-seed round in December 2024 and a $6.1 million seed round in March 2025, bringing in about $7.8 million before the Series A, the outlet reported.
Scrutiny comes with the territory. Crypto Briefing noted that uranium is a sensitive material, and any platform handling it will face questions over custody, verification and who's allowed to participate.
Frequently asked questions
How does Uranium Digital's tokenized uranium work?
Each token represents one pound of U3O8, the uranium concentrate known as yellowcake, and the tokens are issued on Solana. Ownership changes on-chain while the physical uranium stays in accredited storage facilities in North America. According to Crypto Briefing, ConverDyn handles storage and Chainlink provides proof-of-reserves.
Why is uranium trading hard to access today?
Crypto Briefing reported that uranium spot trades usually require a minimum of roughly 100,000 pounds, a ticket worth about $7 million to $8 million. Buyers typically phone a broker for a price, contracts move by email, and settlement can take two to three weeks.
