Streamex Targets Institutional Growth as Gold Token GLDY Generates First Revenue

Key Points

• Streamex reported its first revenue in the second quarter, generating $146,000 in gold lease revenue. The company ended June with $41.8 million in liquidity, no debt and approximately $20 million immediately available.
• Its GLDY product is backed by physical gold and targets an approximately 3.5% annualized yield paid in additional gold. Streamex earns fees from tokenization, leasing and transfers rather than changes in gold prices; GLDY was backed by 3,111 ounces of gold, with external ownership at 9%.
• Institutional adoption and distribution are the company’s main near-term priorities. Streamex plans to convert institutional allocations, launch the retail-oriented GLDC product, integrate IRA access and expand brokerage, custody and retirement-platform partnerships, while targeting silver and other commodities for future tokenization.

Streamex NASDAQ: STEX outlined its strategy to build a commodity-tokenization platform centered initially on yield-bearing gold, reporting its first revenue in the second quarter and identifying institutional adoption and expanded distribution as key near-term priorities.

Christine Plummer, the company’s CFO, said Streamex operates both the platform used to tokenize commodity assets and acts as the issuer of the assets on that platform. The company aims to generate recurring revenue tied to assets under management and trading activity rather than taking a directional position on commodity prices.

“We are a regulated commodity tokenization platform, and we are also the issuer of assets on that platform,” Plummer said. She described gold as the company’s first commercial application of a platform it intends to extend to additional commodities.

GLDY Gold Product and Revenue Model

Streamex’s inaugural product, GLDY, is a physical-gold-bullion-backed security designed to provide gold-price exposure alongside an approximately 3.5% annualized yield paid in additional gold, according to Plummer. One GLDY token represents one fine troy ounce of gold bullion.

The underlying gold is leased through Streamex partner Monetary Metals’ precious-metals lending program. Plummer said GLDY holders retain ownership of the asset, while the leasing arrangement operates behind the scenes to generate the yield. The company said the product is tradable and redeemable, with the current minimum investment set at $25,000 for accredited investors.

Streamex said it does not generate revenue from changes in the price of gold. Instead, it earns through three fee streams: an initial tokenization fee, recurring lease fees and recurring transfer fees when tokens trade. Plummer estimated the lifetime value to Streamex of a single GLDY token at more than $1,500 under a 30-year net-present-value model, while cautioning that trading volume could add upside.

During the question-and-answer session, Plummer said the company does not hold gold on its own balance sheet as part of the tokenization process. When a purchase is initiated, the company works through Monetary Metals to secure physical gold, which is placed in a vault, tagged and then leased through the program.

First Revenue and Liquidity Position

Plummer said the second quarter marked the company’s first period of revenue, with Streamex recording $146,000 in gold lease revenue. She added that operating expenses and net loss declined significantly during the period.

As of the end of June, Streamex had $41.8 million in total liquidity and no debt, according to Plummer. The liquidity figure included cash, marketable securities, digital assets and $15 million of gold, with approximately $20 million immediately available.

The company said GLDY was backed by 3,111 ounces of physical gold and that external ownership had reached 9%.

Institutional Distribution and Oversight

Streamex highlighted several partners supporting trading, custody, verification and liquidity. Plummer said Orca serves as a 24/7 secondary trading venue; CBER and tZERO provide brokerage channels; Inspira Financial provides qualified custody; and Wintermute supports 24/7 liquidity, with about $12 million seeded in same-day settlement.

EisnerAmper provides monthly reserve attestations, Plummer said. During the Q&A session, Streamex representatives said EisnerAmper also audits the code and conducts annual work related to the product’s oversight.

Andrew Motzkin, Streamex’s head of business development, said the company has seen interest internationally, particularly in Asia. He said company representatives had discussions in Hong Kong, including with sovereign wealth funds, and described demand for tokenized precious-metals products as strong.

Near-Term Milestones and Commodity Expansion

Over the next 90 days, Streamex plans to focus on converting its first institutional allocations into GLDY, bootstrapping liquidity for GLDC ahead of its planned launch, completing an Equity Trust IRA integration and maintaining monthly attestations and distributions.

Management said GLDC is intended to be a separate, permissionless product aimed at non-institutional users, whereas GLDY is structured as an institutional product. The company also identified silver as its next targeted commodity, followed longer term by royalties and streams, copper, oil and gas.

For the second half of 2026, Streamex said investors can track progress on its first significant institutional GLDY order and the GLDC launch. It expects further distribution expansion through 2027, including additional brokerage, custody and retirement-platform integrations.

About Streamex (NASDAQ:STEX)

Streamex Corp. is a financial technology company focused on blockchain-based financial infrastructure and the tokenization of real-world assets. Its business is centered on developing digital platforms designed to connect traditional financial products with blockchain networks.

The company’s activities include creating and supporting digital assets, blockchain applications and tokenized investment products. Streamex has described its work as serving institutional and other market participants seeking greater efficiency, transparency and accessibility in digital-asset markets.

Publicly available information about Streamex’s operating history, geographic reach, product portfolio and leadership is limited.

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