Streamex rises 20% after unveiling $100 million gold token sale
Streamex Corp.’s shares rose by more than 20% on Monday after the company revealed a new gold-backed stablecoin, GLDY, which targets accredited and institutional investors.
According to the company, the GLDY token offers investors exposure to physical gold while generating an annualised yield of up to 4%, paid directly in ounces of gold.
Streamex has also committed $5 million of its own capital to the initial offering and said total issuance could reach $1 billion depending on market interest.
Based on the company’s statement, yield for GLDY holders will come from gold leasing agreements under a partnership with Monetary Metals.
Henry McPhie, co-founder and CEO of Streamex, said the project reflects a new way to view gold investment.
“The launch of GLDY represents a major evolution in how investors can access and benefit from physical gold. Now, instead of paying to hold gold, investors can get paid to hold gold,” McPhie stated.
Streamex emphasised that the product aims to provide “capital preservation, liquidity, and yield denominated in ounces” for institutional portfolios seeking stability and commodity diversification.
The development follows Streamex’s earlier collaboration with BioSig, which secured $1.1 billion in July to launch an onchain treasury business focused on gold-backed assets.
The move also aligns with a broader trend of crypto firms turning to gold for diversification.
In June, Tether purchased a 32% stake in Canada’s Elemental Altus Royalties, a gold royalty company, and has since explored additional partnerships across the gold supply chain.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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