Streamex stock surged 20% after the launch of the pre-sale of the gold-backed stablecoin.

Streamex Corp. stock rose by more than 20% after announcing the pre-sale of the gold-backed stablecoin GLDY, providing a yield of up to 4% per year for qualified investors before November 10. The GLDY Token allows access to physical gold, with yields paid in ounces of gold, targeting institutional investors. The pre-sale has a scale of 100 million USD, with Streamex investing at least 5 million USD and potentially expanding to 1 billion USD. The yield is generated from gold leasing contracts through a partnership with Monetary Metals. The minimum investment is 200,000 USD for individuals and 1 million USD for institutions. Following the announcement, Streamex stock rose to the sky and continued to trade higher. This move comes after the company raised 1.1 billion USD to develop an on-chain gold-backed treasury, as many cryptocurrency businesses shift to diversify with gold.