Update March 30, 13:20 UTC: This article has been updated to include a section on the broader tokenized goods market.
Trilitech, a London-based developer focused on the Tezos ecosystem, on Monday launched Metals.io, a recent platform for trading tokenized commodities including uranium and gold, according to an announcement shared with Cointelegraph.
The platform extends the commodity demand that Trilitech and the broader Tezos ecosystem started with Uranium.io, a retail-focused uranium marketplace launched in December 2024 on the Etherlink network, a Layer 2 compatible network with Tezos’ Ethereum virtual machine.
At launch, Metals.io will offer xU3O8 tokenized uranium, tokenized gold, and the RARE Noemon Tech token. Uranium.io describes xU3O8 as a tokenized product of physical uranium, while RareTech materials describe RARE as a basket of strategic metals.
According to the announcement, the launch is a response to the growing interest of investors in strategic materials related to industrial applications and the demand for infrastructure related to artificial intelligence. This logic harkens back to Uranium.io’s 2024 debut, which Tezos framed in the context of uranium’s role in powering nuclear energy and supporting growing electricity demand linked to artificial intelligence.
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Metals.io’s goal is to reduce investment barriers in the uranium trade, which was previously reserved for institutional investors. The recent platform is based on the same technology as uranium.io, launched by Tezos in December 2024.
“One of the core principles behind the launch of this platform was to level the playing field by making a previously inaccessible, critical asset broadly available to all investors,” Ben Elvidge, director of commercial applications at Trilitech, told Cointelegraph.
Elvidge said that since the platform’s launch, approximately 9,000 retail investors have purchased the tokenized uranium product.
In August 2025, digital asset management company Hex Trust integrated Tezos’ Etherlink network to offer institutional custody of tokenized uranium. In January this year, Transak also partnered with the platform to allow retail investors to purchase tokenized uranium via cryptocurrencies or credit cards for as little as $10, a pointed drop from the over-the-counter market’s minimum trading limit of $4.2 million.
Cryptocurrency exchanges introduce tokenized goods
Investor demand for tokenized goods is growing. The cumulative market capitalization of tokenized commodities rose to $7.7 billion on March 6, but fell to $7 billion as of Monday, according to data from RWA.xyz.
The majority of this value was tokenized gold, with Tether Gold (XAUT) accounting for 38% of the market share at $2.5 billion and Paxos Gold (PAXG) accounting for 34% at $2.2 billion.
Julio Moreno, head of research at analytics platform CryptoQuant, attributed the rising demand for tokenized goods to tariff uncertainty, higher interest rates and stronger demand for protected havens in report published on March 5, adding that “cryptocurrency exchanges are emerging as global platforms for TradFi derivatives.”
More and more cryptocurrency companies are launching tokenized products. On Wednesday, Vienna-based cryptocurrency broker Bitpanda launched Vision Chain, Ethereum’s Layer 2 for European banks and fintechs to issue tokenized assets under Europe’s Cryptocurrency Markets Regulation (MiCA) and Markets in Financial Instruments Directive (MiFID II).
On March 20, Coinbase launched stock futures for eligible users outside the US, expanding 24/7 access to stocks along with crypto and forecast markets. Cryptocurrency exchanges Binance and Kraken have also launched tokenized perpetual futures trading for non-US investors.
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