Anchorage expands institutional custody to Etherlink, tokenized uranium

Anchorage Digital Bank, the first federally chartered crypto bank in the United States, has expanded its institutional custody services to include Etherlink and seven additional assets on the Tezos layer-2 network. Among the new offerings is xU3O8, a token that represents physical uranium. Anchorage's integration of Etherlink enables its clients to securely hold these assets through segregated accounts, giving investors exposure to uranium without the need to directly handle or store the commodity.

The tokenized uranium asset, xU3O8, currently has a market cap slightly above $9 million. While Anchorage is not the first institution to support xU3O8, it is the first federally chartered crypto bank in the US to offer this service. Tokenization of physical assets like uranium allows for quicker transfers and settlements compared to traditional methods, which often involve lengthy periods and high minimum investment requirements.