Uranium Digital Raises $16.5M Series A to Tokenize Yellowcake Trading

Uranium Digital has raised $16.5 million in a Series A round led by Blockchain Capital to scale a Solana-based platform that tokenizes physical uranium for institutional traders. The New York startup previously raised approximately $7.8 million across a $1.7 million pre-seed in December 2024 and a $6.1 million seed in March 2025.

The round drew a mix of crypto-native and traditional investors. Framework Ventures, Mirana Ventures, Portal Ventures, Knollwood Investment Advisory and Christian Angermayer all participated, alongside returning earlier backers.

What does the platform actually tokenize?

Each digital unit represents one pound of U₃O₈, the uranium concentrate known as yellowcake. The material sits in accredited storage facilities in North America while ownership changes on-chain. ConverDyn handles storage; Chainlink supplies proof-of-reserves to verify that the uranium backing each token exists in the vault.

The platform targets institutions, not retail. It integrates with the tools trading desks already run, including order management systems, prime brokers and FIX APIs, the standard messaging protocol for electronic trading.

The company plans to replace today's workflow with three components:

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

Why is uranium still traded by phone?

Most major commodities — oil, gold, wheat — trade on automated markets with order books and instant price discovery. Uranium does not. A buyer typically phones a broker for a price, contracts move by email, and the parties coordinate with a storage facility to 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, with pricing emerging from private negotiations between counterparties rather than a public market.

The timing reflects demand fundamentals. Data centers built for the AI boom need enormous amounts of power, and that appetite is reviving interest in nuclear energy — and in the fuel that runs it.

Who is driving the strategy?

CEO Alex Dymala-Dolesky has said growing institutional attention on uranium is accelerating the company's timelines and strategic plans.

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

Open questions remain around custody, verification and participation. Uranium is a sensitive material, and any platform handling it will face scrutiny over who is allowed in. The Chainlink proof-of-reserves setup and ConverDyn storage arrangement form the operational foundation, and their reliability will shape whether institutional desks trust the tokens.

The company has not disclosed a launch date for the scaled platform, leaving the next milestone to watch in how quickly it converts the Series A capital into a live, around-the-clock order book.