Mentioned:
A publicly listed company on the Nasdaq is doing something new: buying physical gold bullion.
What’s happening:
- Streamex Corp (NASDAQ: STEX) has purchased $25M USD of physical gold bullion to hold directly as an asset
Why it matters:
- Streamex Corp is one of the first publicly traded companies in the world who is focused on accumulating physical gold with their own capital and then tokenizing it on the blockchain
Going deeper:
- Streamex Corp just recently made waves when they launched a $100M USD pre-sale for their GLDY stablecoin which is fully backed by physical gold that is held in custody and audited
- North American gold leasing giant Monetary Metals also previously formed a partnership with Streamex Corp to generate a yield from physical gold bullion leases and to allow Streamex Corp to tokenize that yield for investors on the blockchain
The intrigue:
- The new capital Streamex Corp used to purchased the physical gold bullion was raised through a secured convertible debenture and Streamex Corp has publicly stated they will be closing on another $25M USD to purchase more gold upon meeting specific closing conditions
