BioSig, Streamex target gold tokenization with $1.1B financing
BioSig and Streamex have secured $1.1 billion in growth financing to pivot into on-chain commodities, focusing first on gold. The companies signed a letter of intent to merge on May 5 and plan to establish a gold-backed treasury business dedicated to tokenized financial instruments. Of the funding, $100 million is in convertible debentures, while the remaining $1 billion is an equity line of credit. BioSig’s stock rose 27.4% upon the announcement and has increased by 541% over the past six months. Their entry into the tokenized gold market faces competition from established players like Paxos and Tether. CEO Henry McPhie indicated that their approach will differ by utilizing their balance sheet to seed liquidity and potentially acquiring and tokenizing gold assets themselves. They expect to generate revenue through various fees and aim to launch their first tokenized gold product by early 2026. Overall, the tokenized commodities market is evolving, with gold continuing to dominate its value.
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