Streamex Stock Rises 20% Following GLDY Gold-Backed Stablecoin Pre-Sale Announcement

Streamex Corp. saw its shares jump over 20% on Monday following the announcement of a pre-sale for its upcoming gold-backed stablecoin, GLDY. This innovative digital asset is set to yield up to 4% annually and aims specifically at institutional investors.

The GLDY token connects investors directly with physical gold bullion, with yields paid in gold ounces and targeted toward institutional investors, as Streamex stated on Monday. This stablecoin initiative is part of the company’s larger goal to tokenize real-world commodities using digital instruments.

“The introduction of GLDY signifies a transformative step in how investors can leverage physical gold,” said Henry McPhie, Co-founder and CEO of Streamex. “Now, rather than incurring costs for holding gold, investors can earn from it.”

The initial capacity for the GLDY pre-sale is set at $100 million, with Streamex itself contributing at least $5 million to the project. Depending on demand, issuance could potentially rise to $1 billion, and the yield will stem from gold leasing agreements underpinned by a partnership with Monetary Metals.

Minimum Investment for GLDY Investors

Participation in the GLDY token sale will be reserved for accredited individuals and institutions, with a minimum investment of $200,000 for individuals and $1 million for institutional investors.

“The mix of capital preservation, liquidity, and gold-denominated yield is tailored for portfolio managers, ETFs, and institutional cash management strategies seeking diverse commodity exposure,” said McPhie.

The market reacted positively to the news, with Streamex shares climbing 20.42% on the announcement day and maintaining slight gains in the pre-market trading, as per data from Google Finance.

Streamex shares jump 20% on the announcement. Source: Google Finance

This initiative follows Streamex and BioSig securing $1.1 billion in growth funding to establish a gold-backed, on-chain treasury business earlier in July.

A Shift Towards Gold for Cryptocurrency Companies

The launch of their gold-backed stablecoin aligns with the rising interest among crypto firms for gold investment.

In June, Tether, known for being the largest stablecoin issuer globally, acquired a 32% stake in Canada’s public gold royalty firm Elemental Altus Royalties. Recently, discussions have also been initiated with mining and investment groups concerning capital deployment across the gold supply chain.