Streamex Corp. experienced a stock increase of over 20% on Monday following the announcement of a pre-sale for its forthcoming gold-backed stablecoin, GLDY. This digital asset is set to generate an annualized yield of up to 4.0% and will become available to qualified investors on or before Nov. 10.
The GLDY token provides access to physical gold bullion with yield paid in ounces of gold, targeting institutional investors, as stated by the company announced on Monday. This stablecoin aligns with Streamex’s broader goal of tokenizing real-world commodities through digital instruments.
“The introduction of GLDY signifies a significant transformation in how investors can engage with and profit from physical gold,” said Henry McPhie, co-founder and CEO of Streamex. “Investors can now earn money by holding gold instead of paying to store it.”
The GLDY pre-sale has an initial capacity of $100 million, with Streamex pledging at least $5 million. The company indicated that issuance could increase to $1 billion based on demand. Yield is achieved through gold leasing agreements facilitated by Streamex’s exclusive partnership with Monetary Metals.
Related: Standard Chartered predicts $1T may exit emerging market banks to stablecoins by 2028
Streamex sets minimum investment at $200,000 for GLDY
Participation in the GLDY token sale is restricted to accredited individuals and institutions, with a minimum investment requirement of $200,000 for individuals and $1 million for institutional investors.
“This blend of capital preservation, liquidity, and yield 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 news, with Streamex shares rising by 20.42% on that day and continuing to trade slightly higher in pre-market sessions, according to data from Google Finance.
This new initiative follows Streamex and BioSig securing $1.1 billion in growth funding to establish a gold-backed, onchain treasury business in July.
Related: Tether refutes Bitcoin sell-off rumors, confirms purchasing BTC, gold, land
Crypto firms turn to gold for diversification
Streamex’s debut of its gold-backed stablecoin reflects a growing demand among crypto companies for gold exposure.
In June, Tether, the issuer of the largest stablecoin globally, acquired a 32% share in Elemental Altus Royalties, a public gold royalty company in Canada. Last month, the firm also started discussions with mining and investment groups about allocating capital throughout the gold supply chain.
Magazine: Leaving Trump’s top crypto role was no easy feat: Bo Hines
