Streamex Corp.'s stock price soared over 20% on Monday following the announcement of the upcoming presale of the gold-backed stablecoin GLDY. This digital asset aims to generate an annualized yield of up to 4.0% and will be open to qualified investors on or before November 10.
The company announced on Monday that the GLDY token offers exposure to physical gold bullion, with returns paid in ounces of gold, targeting institutional investors. This stablecoin is part of Streamex's broader mission to tokenize real-world commodities through digital tools.
"The launch of GLDY represents a significant evolution in how investors can access and benefit from physical gold," said Henry McPhie, co-founder and CEO of Streamex. "Now, investors no longer need to pay to hold gold; instead, they can earn returns by holding gold."
The GLDY presale includes an initial capacity of $100 million, with Streamex itself committing to invest at least $5 million. The company stated that the issuance could expand to $1 billion depending on demand. Returns are generated through gold leasing transactions, supported by Streamex's exclusive partnership with Monetary Metals.
Participation in the GLDY token sale is limited to qualified individuals and institutions. The minimum investment for individuals is $200,000, while for institutional entities, it is $1 million.
"The combination of capital preservation, liquidity, and yield in ounces is tailored for portfolio managers, ETFs, and institutional balance sheets seeking lasting cash management and diversified commodity exposure," McPhie said.
The market reacted swiftly to this announcement, with Streamex's stock price jumping 20.42% on the day, continuing to rise slightly in pre-market trading, according to Google Finance data.
This new initiative comes after Streamex and BioSig secured $1.1 billion in growth funding in July to launch a gold-backed on-chain treasury business.
As Streamex launches its gold-backed stablecoin, the demand for gold exposure among crypto companies is increasing.
In June, the world's largest stablecoin issuer, Tether, acquired a 32% stake in Canadian-listed gold royalty company Elemental Altus Royalties. Last month, the company also began discussions with mining and investment groups about deploying capital within the gold supply chain.
Related: VanEck: As gold prices soar, Bitcoin (BTC) could reach $644,000 post-2028 halving "equivalent"
Original article: “Streamex Shares Soar 20% After Launch of Gold-Backed Stablecoin GLDY Presale”
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