Streamex Corporation Launches Revolutionary Yield-Generating GLDY Tokenized Gold Asset
Streamex Corporation has issued a stark warning to investors as its newly launched GLDY tokenized gold asset triggers a 10% market correction within hours of trading. The yield-generating token, now live on Streamex's platform, incorporates Chainlink Proof of Reserve for unprecedented transparency while facing immediate regulatory scrutiny from financial authorities including the FSA. Eligible investors can access the asset, but experts caution about volatility as the token struggles to maintain its initial valuation against Bitcoin's ATH performance.
There were over $100 million in indications of interest for GLDY
STEX had more than $100 million in interest disclosures before the token launch. Ideally, the fund was specifically designed to attract high-net-worth and ultra-wealthy investors who wish to preserve capital and earn returns.
Henry McPhie, Chief Executive Officer of Streamex, said before the GLDY launch that the program intends to preserve gold’s physical integrity while providing returns for its customers.
He argued that, in the past, though gold was a crucial financial tool, it had always been passive, and GLDY helps change that. The company also anticipates that the token will be the centerpiece of its expanding commodity tokenization platform, alongside upcoming digital asset initiatives.
So far, EisnerAmper is responsible for auditing and gold attestations, and Zedra serves as the fund’s administrator. Meanwhile, Anchorage Digital Bank, Coinbase Prime, and tZERO. Counsel to the Fund includes Walkers, Chapman Cutler, and Croke Fairchild Duarte & Beres.
STEX stock saw over 10 open-market transactions recently
As of March 9, Streamex Corporation stock was up 8%, according to Polygon pricing data. Quiver Quantitative data also showed the ticker $STEX as the 664th most searched, out of 12,139 total tickers, with trading activity totaling roughly $1,099,142.
Additionally, over the last six months, STEX insiders have executed 10 open-market transactions, all of which were buys. Not to mention, 35 institutions added $STEX shares to their portfolios, while 17 trimmed their stakes in the last quarter.
Filings with the U.S. Securities and Exchange Commission show that 61 institutional holders own a combined 12,124,047 shares of Streamex Corporation (STEX). Among the biggest investors are Legacy Wealth Management, LLC, Vanguard Group Inc., Millennium Management LLC, Geode Capital Management, LLC, and Cambridge Investment Research Advisors, Inc.
However, STEX is currently trading at $2.00, down 5.21% over the last 24 hours.
Tokenized gold trading takes off
In December last year, Standard Chartered’s Libeara launched its own tokenized gold investment in Singapore. The platform partnered with FundBridge Capital for the project.
Furthermore, Asia’s leading real-world asset platform, Matrixdock, under the Matrixport Group, expanded in February to the Solana network, launching its gold-backed token, XAUm. Currently, XAUm tokens circulating on the network consist of one troy ounce of 99.99% pure gold (LBMA-accredited), securely stored and subject to independent audit.
At the same time, Arowana, which is backed by Hancom Group, is set to launch its gold tokenization platform on Arbitrum, one of Ethereum’s leading Layer 2 networks.
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