Streamex experienced a stock increase of over 20% on Monday following the announcement of a pre-sale for its imminent gold-backed stablecoin, GLDY. This digital asset is designed to yield up to 4.0% annually, with opportunities for qualified investors starting on or before November 10.
The GLDY token provides exposure to physical gold bullion, with yields disbursed in gold ounces, primarily targeting institutional investors, as the firm announced on Monday. This stablecoin aligns with Streamex’s broader goal to tokenize real-world commodities using digital instruments.
“The launch of GLDY marks a significant advancement in how investors can engage with and gain from physical gold,” stated Henry McPhie, co-founder and CEO of Streamex. “Investors can now earn returns on their gold holdings instead of incurring costs to maintain them.”
The initial capacity for the GLDY pre-sale is set at $100 million, with Streamex itself pledging at least $5 million. The firm anticipates that issuance could increase to $1 billion, contingent on demand. Returns are generated through gold leasing agreements underpinned by Streamex’s exclusive collaboration with Monetary Metals.
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Streamex establishes $200,000 minimum for GLDY investors
Participation in the GLDY token sale is exclusive to accredited individuals and institutions. The minimum investment requirement is $200,000 for individuals and $1 million for institutional investors.
“This innovative blend of capital preservation, liquidity, and yield expressed in ounces is specifically crafted for portfolio managers, ETFs, and institutional balance sheets aiming for sustainable cash management and diversified commodity exposure,” McPhie remarked.
The market reacted quickly to this announcement, with Streamex shares soaring by 20.42% on that day, and they continued to trade slightly higher during the pre-market session, according to data from Google Finance.
This new endeavor follows a $1.1 billion growth funding secured by Streamex and BioSig to initiate a gold-backed, on-chain treasury business in July.
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Crypto companies pivot to gold for diversification
The introduction of Streamex’s gold-backed stablecoin arrives amidst a growing interest from crypto companies seeking gold exposure.
In June, Tether, which issues the largest stablecoin globally, obtained a 32% stake in Canada’s public gold royalty firm, Elemental Altus Royalties. Last month, the firm also initiated talks with mining and investment groups regarding capital deployment throughout the gold supply chain.
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