Streamex Taps Siebert Financial to Offer Tokenized Gold in Brokerage Accounts

Streamex Corp. (NASDAQ: STEX) has made its gold-backed, tokenized security available for purchase through traditional brokerage accounts, aiming to bridge the gap between digital assets and mainstream wealth management. The company announced on June 29 that its yield-bearing security, $GLDY, can now be offered to eligible clients by brokers at Siebert Financial.

A Three-Way Partnership

This new distribution channel is the result of a collaboration between three firms. Streamex issues the $GLDY security, the regulated digital asset platform tZERO provides custody, and the FINRA-member broker Siebert Financial, which oversees approximately $20 billion in client assets, will handle distribution.

The arrangement allows Siebert's brokers to offer the tokenized gold product to clients without requiring them to set up crypto wallets or have specialized blockchain knowledge. The move targets the wealth management and institutional sectors, integrating a digital asset into the conventional brokerage framework.

The $GLDY Security

According to Streamex, the $GLDY token is a regulated security available to verified accredited investors. It is designed to offer direct exposure to the gold market with features common to digital assets.

Key features of the security include:

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• Yield: It pays a variable yield of up to approximately 3.5% per year, distributed monthly.
• In-Kind Payments: The yield is paid in additional gold, compounding the holder's physical gold backing over time.
• 24/7 Trading: The token also trades on the Solana-based decentralized exchange Orca, which Streamex enabled in May.

"Putting $GLDY into a brokerage account is a major step... because it meets traditional investors exactly where they already are," said Henry McPhie, Co-Founder and CEO of Streamex, in a statement.

Market Context and Future Plans

This initiative is part of Streamex's broader strategy to tokenize real-world assets (RWAs), starting with commodities. The company stated its next objective is to launch a retail-focused version of its digital gold product that would be accessible to a wider audience.

The company's plans indicate this future retail offering would also pay a similar yield and trade on several decentralized exchanges. This strategy seeks to capitalize on growing investor interest in tokenized assets, which combine the tangible value of commodities like gold with the efficiency and accessibility of blockchain technology.