Mentioned:
A publicly traded company on the Nasdaq wants to begin buying up gold bullion to tokenize it on the blockchain. And Cantor Fitzgerald and Clear Street are backing them.
What’s happening:
- BioSig Technologies’ (NASDAQ: BSGM) wholly owned subsidiary Streamex Exchange has entered into a $1.1B USD financing agreement to advance their gold treasury strategy and real world asset tokenization platform
By the numbers:
- $1B USD of the new financing is being done as an equity line of credit, with another $100M USD being done as secured convertible debentures
Why it matters:
- The new financing round was led by prominent Wall Street investment banks Cantor Fitzgerald, Clear Street and Needham & Company
Going deeper:
- Streamex Exchange has publicly stated they plan to use the new funding round to become one of the largest holders of physical gold bullion in the public markets
- Streamex Exchange is being led by a group of legendary mining entrepreneurs and financiers, including Wheaton Precious Metals (NYSE: WPM) founder Frank Giustra and former Osisko Development Corp (NYSE: ODV) Chairman and CEO Sean Roosen
