Mentioned:
Streamex is bringing physical gold onto the blockchain. And now, they want to generate a yield from it too.
What’s happening:
- Streamex Corp (NASDAQ: STEX) has formed a new exclusive partnership with gold lending company Monetary Metals to generate a yield from physical gold bullion leases
Why it matters:
- Monetary Metals is one of the largest gold leasing companies in North America and has successfully facilitated more than $1B USD in near term gold leases globally
Going deeper:
- The new partnership will give Streamex a three year deal to fund 10% of all eligible gold leases being done by Monetary Metals and tokenize the yield generated on the blockchain for investors to be able to participate in
- Streamex just recently made waves when they raised $15M USD in an equity financing round to begin accumulating physical gold bullion to hold directly as an asset and to tokenize on the Solana and Base blockchains
The intrigue:
- Osisko Mining (TSX: OSK) founder Sean Roosen and Wheaton Precious Metals (NYSE: WPM) founder Frank Giustra are both early investors and strategic advisors to Streamex
