Streamex Corp. stock surged 20% after announcing pre-sale for gold-backed stablecoin GLDY that aims for 4.0% annual yield. Token offers exposure to physical gold bullion with yield paid in gold ounces. Company commits $5 million to initial $100 million capacity, with potential to reach $1 billion based on demand. Standard Chartered predicts $1 trillion may move to stablecoins by 2028. Minimum investment for GLDY is $200,000 for individuals and $1 million for institutions. Streamex shares jumped 20.42% on the day of the announcement. Company secured $1.1 billion in growth funding earlier in July. Tether bought 32% stake in Canada’s gold royalty firm Elemental Altus Royalties. Tether also in discussions with mining and investment groups for gold supply chain deployment. Bo Hines reflects on leaving top crypto job.

Read more at Cointelegraph: Streamex Stock Jumps on Gold-Backed Stablecoin Launch