Nasdaq-listed medical gadget expertise agency BioSig Applied sciences and real-world asset tokenization firm Streamex need to elevate as much as $1.1 billion in financing to launch a gold-backed treasury administration technique powered by Solana.
BioSig and Streamex mentioned in a press launch on July 8 that the businesses have entered right into a definitive settlement that may see them elevate as much as $1.1 billion from a number one institutional investor.
Streamex & BioSig plan to boost the funds through a debenture, providing the sale of $100 million in senior secured convertible notes and fairness line of credit score of as much as $1 billion. The debentures will probably be convertible into shares of BioSig’s widespread inventory.
Per the announcement, BioSig and Streamex are eyeing a real-world belongings footprint through gold. Their objective is to convey a bit of the $142 trillion commodities market onchain through Solana (SOL).
Blockchain expertise will assist unlock liquidity, transparency and accessibility, mentioned BioSig chief govt officer and Streamex co-founder Henry McPhie.
“This financing marks a pivotal second not just for Streamex and BioSig, however for the evolution of worldwide monetary markets. By combining the worth of bodily gold with the innovation of blockchain, we’re constructing an organization grounded in what we consider to be the world’s most trusted retailer of worth whereas enabling a scalable, high-return enterprise mannequin by tokenization,” McPhie added.
Gold tokenization an enormous alternative
BioSig’s announcement follows a merger with Streamex that noticed the corporate turn into considered one of Nasdaq’s largest gold bullion holders, and the financing initiative, led by Cantor Fitzgerald, Clear Road and Needham & Firm as placement brokers seeks to cement this standing. CIBC World Markets acted as strategic advisor.
Streamex sees RWA tokenization as a significant ecosystem within the evolving market, and says gold tokenization has the potential to dwarf Bitcoin (BTC) as conventional monetary establishments embrace tokenized belongings publicity.
Per information by rwa.xyz, the worldwide onchain RWA worth is round $24.5 billion throughout stablecoins, U.S. Treasuries, commodities, non-public credit score, shares, international bonds and institutional funds. About $418 million of this worth is at the moment on Solana.
Morgan Lekstrom, co-founder of Streamex and chairman of BioSig, integrating bodily gold with the worth of tokenization is a significant milestone.
“The on-chain integration of gold and commodities represents a transformative evolution in international finance,” Lekstrom famous. “Whereas many treasury fashions exist, the method pioneered by Streamex and BioSig combining bodily gold with a scalable, revenue-generating tokenization platform introduces a wholly new worth proposition for token holders.”
