The Baking Sheet - Issue #268

Hex Trust Now Supports Uranium on Etherlink

August 15, 2025

Even as the general pace slows a bit heading into fall, the Tezos ecosystem is showing no signs of losing focus as we head. This week’s updates reflect steady, meaningful progress, the kind that strengthens the foundation for what’s ahead.

We’re starting things off with a big step for institutional adoption: Hex Trust has integrated Etherlink and is now supporting custody for xU3O8, the tokenized uranium asset built on Tezos. It’s a strong signal that Tezos continues to be a serious contender in the real-world asset space. We’re also celebrating the winners of the TezFits Open Call, where community creativity meets global visibility, and sharing the next gathering spot for the community, the Tezos Breakfast Club at WebX.

Let’s get into it.

Hex Trust Now Supports Uranium on Etherlink

One of the biggest hurdles for real-world asset tokenization has always been custody. That’s now starting to change with the announcement of Curve last week, and this week Etherlink announces support from Hex Trust.

Hex Trust, a leading institutional custodian for digital assets, has officially integrated Etherlink and is now offering secure, regulated custody for xU3O8, the tokenized uranium asset issued by uranium.io. It’s a meaningful development for institutions looking to engage with real-world assets (RWAs) on Tezos.

Founded in 2018, Hex Trust provides fully licensed custody, staking, and digital asset services for banks, asset managers, Web3 companies, and infrastructure providers. With regulatory approvals across Hong Kong, Singapore, Dubai, and Italy, Hex Trust has positioned itself as a reliable and compliant entry point into the digital asset space for institutions, and now it’s turning its attention to Tezos.

By integrating Etherlink, Hex Trust enables its clients to safely hold xU3O8, a digital asset backed by verified reserves of physical uranium, and made tradable through Tezos' Smart Rollup infrastructure. xU3O8 is already available on multiple exchanges and represents one of the most accessible examples of commodity tokenization on-chain today.

This integration is important for several reasons:

  • Bridges traditional finance with on-chain assets by offering compliant access to RWAs

  • Removes one of the biggest blockers to institutional participation in commodity-backed tokens with regulated custody

  • Signals increasing institutional confidence in Etherlink and the Tezos ecosystem

  • Unlocks new RWA use cases, from uranium to future tokenized commodities on Tezos

According to Giorgia Pellizzari, Head of Custody at Hex Trust:

“Tokenised commodities like uranium are gaining institutional interest as more real-world assets move on-chain. By integrating Etherlink, we reinforce our support for the Tezos ecosystem, and highlight our continued focus on delivering secure, regulated custody.”

Ben Elvidge, Head of Commercial Applications at Trilitech, adds:

“Uranium is a perfect fit for this kind of innovation. It's a physical asset that's tough for most investors to access, the market has pricing issues, and now we can solve both problems with blockchain rails. Having a proper regulated custodian like Hex Trust in the mix just makes it that much easier for institutions to dip their toes in the water.”

With the infrastructure now in place to support custody, trading, and tokenization, this move helps position Tezos and Etherlink as a credible home for real-world assets and inviting a new class of users into the ecosystem.

Seoul Tacker: Heading into the Final Week of Cooldown

The Seoul proposal continues to advance through the governance process, and is now in the final week of its Cooldown Phase. With the quorum surpassed last week, the upgrade is officially on track to enter the final voting phase next.

Bakers now have a short window to review the proposal once more before casting their final ballots.

As a quick reminder, Seoul introduces targeted improvements to staking and performance, including:

  • Native multisig support for tz4 accounts

  • Aggregated attestations to reduce bandwidth and improve block efficiency

  • Open unstake finalization, simplifying the staking experience across wallets and platforms

Bakers and community members can continue testing on Seoulnet and preparing their infrastructure for the changes ahead. If approved, Seoul will become the next active protocol on Tezos.

This Week in the Tezos Ecosystem

TezFits Winners Announced

The results are in. After reviewing dozens of inspired submissions from across the Tezos community, the panel for this year’s TezFits Open Call was so impressed that they couldn’t stick to just four winners, they selected five.

Congratulations to:

Each artist will now work on custom designs for official Tezos event swag — shirts, stickers, socks, and more — set to debut at events around the world.

Every entry showed off the depth of talent and creativity that defines the Tezos art scene. You can check out the beautiful artwork posted here.

Tezos Summer Events

WebX 2025: Arthur Breitman to Speak in Tokyo

August 25–26, 2025 | Tokyo International Forum, Japan

Arthur Breitman, co-founder of Tezos and Council Member of the Tezos Foundation, will be a featured speaker at WebX 2025, Asia’s leading conference for Web3, digital assets, and emerging technologies.

With a background in applied mathematics, computer science, and quantitative finance, Arthur brings a sharp, systems-driven perspective to the evolving landscape of decentralized networks. His session will explore the current state of Tezos and the future of scalable, upgradeable infrastructure.

WebX draws builders, policymakers, and entrepreneurs from across the globe. Arthur’s participation puts Tezos front and center in conversations shaping the next wave of global adoption.

Tezos Breakfast Club at WebX

August 26, 2025 | Tokyo, Japan

Kicking off WebX with good coffee and great company.

The Tezos Breakfast Club is a relaxed morning meetup for builders, explorers, and curious minds across the Web3 space. Whether you're new to the Tezos ecosystem or already part of it, this is your chance to connect with the teams behind Tezos, Etherlink, and Uranium.io — all over breakfast.

What’s on the table:

  • Complimentary coffee and fresh baked goods

  • Friendly, informal networking with developers, creators, and community members

  • Conversations with folks from Trilitech, TZ APAC, and Tezos Commons

  • A chance to learn more about what’s happening across Tezos Layer 1, Etherlink, and the future of real-world assets

It’s a low-key way to start a big day and a great chance to connect before the sessions begin.

🔴 Now Streaming: From Musician to Tezos Builder - Ryan Tanaka's Tezos Journey

Ryan Tanaka shares his journey from a musician to a core team member of Teia DAO and creator of Teia Cafe in the Tezos art ecosystem. From experiencing the community's remarkable integrity to building on-chain copyright solutions for artists, his story showcases how technology and community values can create meaningful digital art.

• Got involved with Tezos art when Hicetnunc was transitioning to Teia
• Teia operates as a registered nonprofit with a core team and about 3,000 DAO members
• Stayed committed to Teia because of the community's exceptional integrity and transparency
• Created Teia Cafe as a separate project focused on music and building an on-chain copyright system
• Built Teia Cafe without a database, with all data coming directly from the blockchain
• Working with developer Joe Simon to rebuild and improve Teia Cafe
• Believes the Tezos community's diligence and values will become increasingly valuable
• Organizing monthly TezCon Seattle meetups starting August 10th at Easy Street Records

Watch the full episode on YouTube.