Streamex Stock Jumps Over 30% On Plans To Launch Gold-Backed Stablecoin GLDY

Shares of Streamex (STEX) jumped more than 30% in midday trade on Monday after the company announced plans for a pre-sale of its new gold-backed stablecoin dubbed GLDY.

STEX’s stock was up more than 33% at the time of writing, trading at around $6.98, putting it within reach of its record high of $7.44 recorded in September. Streamex, which went public in May through a reverse merger with BioSig Technologies, has gained more than 60% since its market debut. On Stocktwits, it was among the top trending tickers. Retail sentiment around the company surged to ‘bullish’ from ‘bearish as chatter rose to ‘high’ from ‘extremely low’ levels over the past day.

The company stated that GLDY will offer investors a yield of up to 4%, with the pre-sale expected to commence on or before November 10. Streamex described the token as an institutional-grade, physically backed gold asset that combines the stability of traditional gold investments with blockchain-enabled yield and liquidity.

According to the company, GLDY aims to provide an alternative to conventional gold exposure products such as exchange-traded funds, which typically carry storage costs and do not generate income. By contrast, GLDY holders will earn a return while maintaining exposure to the gold price.

“Over $400 billion sits in traditional gold ETFs, assets that offer price exposure but cost money to hold and provide no yield. GLDY fundamentally changes that,” said Co-Founder and CEO Henry McPhie. “Now, instead of paying to hold gold, investors can get paid to hold gold.”

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