Uranium Digital raises $16.5 million to bring uranium trading on-chain

Uranium powers reactors that keep the lights on. Trading it still involves phone calls, emailed contracts and a lot of waiting.

New York-based Uranium Digital wants to change that. The startup has raised $16.5 million in a Series A round led by Blockchain Capital, with several earlier backers returning. The goal is to scale an electronic trading platform that tracks ownership of physical uranium on a blockchain.

The timing is not accidental. Data centers built for the AI boom need enormous amounts of power. That appetite is reviving interest in nuclear energy, and in the fuel that makes it run.

A commodity market stuck in the fax era

Most major commodities trade on large, automated markets. Oil, gold and wheat all have screens, order books and instant price discovery. Uranium is the odd one out.

A buyer typically phones a broker to get a price. Contracts move around by email. Then the parties coordinate with a storage facility to formally transfer ownership of material that never physically moves.

Spot trades usually require a minimum of roughly 100,000 pounds, a ticket worth about $7 to 8 million. Settlement can take two to three weeks, and pricing emerges from private negotiations between counterparties.

How the platform works

Uranium Digital tokenizes physical uranium. Each digital unit represents one pound of U₃O₈, the uranium concentrate better known as yellowcake. The material itself sits in accredited storage facilities in North America.

The tokens live on the Solana blockchain. Ownership changes on-chain, while the uranium stays put in the warehouse.

The company has lined up two key partners. ConverDyn handles storage. Chainlink provides proof-of-reserves, a system meant to verify that the uranium backing the tokens actually exists in the vault.

The platform targets institutions rather than retail traders. It plugs into the tools trading desks already use, including order management systems, prime brokers and FIX APIs, the standard messaging protocol for electronic trading.

Uranium Digital says it wants to replace the current setup with three things:

• A live order book running around the clock
• Real-time position management
• Digital warehouse receipts that can be redeemed for the underlying material

Who is writing the checks

Blockchain Capital led the Series A. The broader investor list mixes crypto-native funds with more traditional names. Backers include Framework Ventures, Mirana Ventures, Portal Ventures, Knollwood Investment Advisory and Christian Angermayer.

This is not the company’s first raise. Uranium Digital closed a $1.7 million pre-seed round in December 2024, followed by a $6.1 million seed round in March 2025. Together, those rounds brought in approximately $7.8 million before the Series A.

CEO Alex Dymala-Dolesky has said that growing institutional attention on uranium is speeding up the company’s timelines and strategic plans.

What this means for traders, crypto and the uranium market

For the uranium market, the most interesting variable is access. If tokens represent single pounds, the 100,000-pound minimum stops being a hard barrier. Smaller institutional buyers could, in theory, take positions that previously required a multimillion-dollar ticket.

There are real questions to watch. Uranium is a sensitive material, and any platform handling it will face scrutiny over custody, verification and who is allowed to participate. The proof-of-reserves setup with Chainlink and storage with ConverDyn are the foundations here, and their reliability will shape institutional trust.