Mentioned:
Streamex wants to change the future of gold and digital assets. Which is exactly why they’re getting ready to launch a new gold backed stablecoin.
What’s happening:
- Streamex Corp (NASDAQ: STEX) has officially launched a $100M USD pre-sale for their new GLDY stablecoin
Why it matters:
- The GLDY stablecoin is fully backed by physical gold that is audited and in custody and will aim to closely track the performance of physical gold
Going deeper:
- Streamex Corp will offer investors a 4% annual yield on their GLDY holdings, which is fuelled by their existing partnership with Monetary Metals who is one of the largest gold leasing companies in North America
- The GLDY stablecoin will be fully regulated and structured to meet all the requirements of institutional investors, asset management companies and ETFs, which follows $10B USD ETF company Simply Asset Management cutting a deal with Streamex to partner on yield generating tokenization products for gold
- Streamex Corp has also publicly stated they will invest $5M USD of their own capital into the pre-sale of their GLDY stablecoin
The intrigue:
- Mining billionaire and founder of royalty giant Wheaton Precious Metals (NYSE: WPM) Frank Giustra is one of the largest shareholders of Streamex Corp and recently made waves when he added to his existing position by buying more shares of Streamex Corp in the open market
