Streamex Corp. experienced a stock increase of over 20% on Monday after revealing a pre-sale for its forthcoming gold-backed stablecoin, GLDY. This digital asset, which aims to deliver an annualized yield of up to 4.0%, will be available for qualified investors on or before Nov. 10.
The GLDY token provides exposure to physical gold bullion, with yield disbursed in ounces of gold, targeting institutional investors, the company announced on Monday. This stablecoin is part of Streamex’s larger initiative to tokenize real-world commodities through digital solutions.
“The introduction of GLDY marks a significant change in how investors can access and gain advantages from physical gold,” stated Henry McPhie, co-founder and CEO of Streamex. “Now, rather than incurring costs to hold gold, investors can earn rewards for holding it.”
The GLDY pre-sale has an initial capacity of $100 million, with Streamex contributing at least $5 million. The company indicated that issuance could rise to $1 billion, subject to demand. Yield is produced through gold leasing agreements backed by Streamex’s exclusive partnership with Monetary Metals.
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“The fusion of capital preservation, liquidity, and yield expressed in ounces is specifically designed for portfolio managers, ETFs, and institutional balance sheets aiming for robust cash management and diversified commodity exposure,” McPhie noted.
The market reacted quickly to the announcement, with Streamex shares soaring 20.42% on the day and maintaining slight gains in the pre-market session, as per data from Google Finance.
This new initiative follows Streamex and BioSig securing $1.1 billion in growth funding to launch a gold-backed, on-chain treasury business in July.
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The launch of Streamex’s gold-backed stablecoin comes amidst a growing appetite from crypto companies for exposure to gold.
In June, Tether, the creator of the world’s largest stablecoin, acquired a 32% stake in Canada’s public gold royalty company Elemental Altus Royalties. Recently, the firm also initiated discussions with mining and investment groups regarding capital deployment across the gold supply chain.
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