BioSig engages broker-dealer acquisition for gold token launch

LOS ANGELES & VANCOUVER - BioSig Technologies, Inc. (NASDAQ:BSGM) announced Monday that its subsidiary Streamex Exchange Corporation has engaged Compliance Exchange Group to manage the acquisition of a FINRA and SEC registered broker-dealer, according to a company press release.

The acquisition aims to position Streamex as one of the first NASDAQ-listed companies to issue regulated Real-World Asset (RWA) tokens in the United States, specifically focusing on gold-backed digital assets. According to InvestingPro analysis, the company maintains a healthy current ratio of 2.37, suggesting strong short-term liquidity to support this strategic initiative.

The company stated the move would allow it to target the $22 trillion global gold market within the broader commodities sector by providing access to gold-backed tokenized assets for both institutional and retail investors in the U.S.

"Acquiring a regulated broker-dealer will help us build the infrastructure to lead the gold tokenization market in the U.S.," said Henry McPhie, CEO of BioSig and Co-Founder of Streamex.

The Solana-based blockchain platform developed by Streamex is designed to enable the issuance and trading of gold-backed tokens. The company plans to hold physical gold through a bullion bank and denominate the majority of its balance sheet in vaulted gold rather than fiat currency.

BioSig Technologies recently merged with Streamex Exchange Corporation. Prior to the merger, BioSig operated as a medical device technology company with a digital signal processing platform for cardiovascular arrhythmia treatments. InvestingPro data shows the company is currently trading above its Fair Value, with a volatile stock price that has seen a 305% increase over the past six months.

The completion timeline for the broker-dealer acquisition was not specified in the announcement. Investors can access 13 additional exclusive insights about BSGM through InvestingPro, including detailed financial health metrics and growth projections.

In other recent news, BioSig Technologies, Inc. has announced securing up to $1.1 billion in growth financing, which includes $100 million in senior secured convertible debentures and a $1 billion equity line of credit. This financial move aims to support the company’s gold-backed treasury management strategy and positions BioSig to become a significant holder of gold bullion on the Nasdaq. Additionally, BioSig has completed a merger with Streamex Exchange Corporation, making Streamex a wholly owned subsidiary and introducing a new leadership team with Henry McPhie as CEO. Ascendiant Capital has raised BioSig’s stock price target from $2.50 to $10.00, maintaining a Buy rating, citing an attractive valuation and potential growth opportunities. The firm believes the merger with Streamex, a company focused on tokenizing commodities, marks a new strategic direction for BioSig. Furthermore, BioSig has appointed Russell Starr as a Strategic Advisor to Streamex, leveraging his experience in capital markets and decentralized finance. The company also added Trevor Bacon and Kellan Grenier, co-founders of Parcl, as strategic advisors to advance its commodity market initiatives. These developments highlight BioSig’s focus on integrating blockchain technology with traditional finance to revolutionize commodity finance.

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