Nasdaq-listed medical system know-how 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 stated in a press launch on July 8 that the businesses have entered right into a definitive settlement that can see them elevate as much as $1.1 billion from a number one institutional investor.
Streamex & BioSig plan to boost the funds by way of 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 can be convertible into shares of BioSig’s frequent inventory.
Per the announcement, BioSig and Streamex are eyeing a real-world property footprint by way of gold. Their purpose is to convey a bit of the $142 trillion commodities market onchain by way of Solana (SOL).
Blockchain know-how will assist unlock liquidity, transparency and accessibility, stated BioSig chief government officer and Streamex co-founder Henry McPhie.
“This financing marks a pivotal second not just for Streamex and BioSig, however for the evolution of world monetary markets. By combining the worth of bodily gold with the innovation of blockchain, we’re constructing an organization grounded in what we imagine to be the world’s most trusted retailer of worth whereas enabling a scalable, high-return enterprise mannequin via tokenization,” McPhie added.
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Gold tokenization an enormous alternative
BioSig’s announcement follows a merger with Streamex that noticed the corporate grow to be considered one of Nasdaq’s largest gold bullion holders, and the financing initiative, led by Cantor Fitzgerald, Clear Avenue and Needham & Firm as placement brokers seeks to cement this standing. CIBC World Markets acted as strategic advisor.
Streamex sees RWA tokenization as a serious ecosystem within the evolving market, and says gold tokenization has the potential to dwarf Bitcoin (BTC) as conventional monetary establishments embrace tokenized property publicity.
Per information by rwa.xyz, the worldwide onchain RWA worth is round $24.5 billion throughout stablecoins, U.S. Treasuries, commodities, personal credit score, shares, world bonds and institutional funds. About $418 million of this worth is presently on Solana.
Morgan Lekstrom, co-founder of Streamex and chairman of BioSig, integrating bodily gold with the worth of tokenization is a serious milestone.
“The on-chain integration of gold and commodities represents a transformative evolution in world finance,” Lekstrom famous. “Whereas many treasury fashions exist, the strategy pioneered by Streamex and BioSig combining bodily gold with a scalable, revenue-generating tokenization platform introduces a completely new worth proposition for token holders.”
Learn extra: Tokenized gold breaks $19B in quantity, rivaling main gold ETFs
