Mentioned:
A Wall Street veteran is joining a publicly traded gold tokenization company. But, why?
What’s happening:
- Former Chief Executive Officer of Wall Street investment bank Cantor Fitzgerald Shawn Matthews has officially joined the board of directors of Streamex (NASDAQ: STEX)
Why it matters:
- Streamex just recently made major waves on Wall Street with the launch of their gold backed stablecoin known as GLDY which gives investors direct exposure to physical gold and generates a passive yield
Going deeper:
- Streamex has been making a flurry of new moves to disrupt the business of precious metals lately, including publicly stating their plans to tokenize physical silver directly onto the blockchain and generate a passive yield through their partnership with Monetary Metals
- Shawn Matthews is also the founder of global macro hedge fund Hondius Capital Management which invests across different asset classes and macro strategies and has sponsored multiple SPACs on the Nasdaq
The intrigue:
- Mining billionaire Frank Giustra also previously invested another $3M USD into Streamex’s last equity financing round at $3.00 USD per share
