Streamex and Simplify Asset Management sign letter of intent

NEW YORK and LOS ANGELES - Streamex Corp. (NASDAQ:STEX), whose stock has surged over 1,900% in the past year according to InvestingPro data, announced Wednesday it has signed a letter of intent with Simplify Asset Management to explore integrating Streamex’s tokenized gold yield product into Simplify’s ETF structures.

The potential partnership aims to develop tokenized exchange-traded product solutions, subject to definitive agreements and regulatory approval. Simplify currently manages over $10 billion in assets. The micro-cap Streamex, with a market capitalization of approximately $107 million, has seen its shares trade at $6.21, with analysts setting a $10 price target.

Under the proposed collaboration, the companies intend to design, launch, and distribute products that integrate tokenized commodities, starting with gold, into ETF and ETP vehicles. This would potentially embed Streamex’s yield-bearing gold token directly into Simplify’s ETFs.

"This is a transformative step in uniting the $10 trillion USD ETF industry with the innovation of real-world asset tokenization," said Henry McPhie, CEO of Streamex Corp. InvestingPro analysis reveals 13 additional key insights about Streamex’s financial health and market position, available to subscribers.

Paul Kim, CEO & Co-Founder of Simplify Asset Management, noted: "By incorporating Streamex’s tokenized gold yield products into our ETFs, we are unlocking an entirely new investment category: regulated, yield-bearing gold accessible through the familiar ETF structure."

The letter of intent outlines a framework for the companies to leverage each other’s platforms for developing next-generation financial products, with a focus on bridging blockchain innovation with institutional-grade financial offerings.

The companies stated that the potential partnership could create institutional demand for Streamex’s Gold Yield Token by providing ETF investors with exposure to yield-generating, tokenized gold assets within regulated products.

The announcement, based on a press release statement, indicates the partnership remains subject to definitive agreements and regulatory approvals. For investors seeking deeper analysis of companies like Streamex in the evolving digital asset space, InvestingPro offers comprehensive financial metrics and expert insights to inform investment decisions.

In other recent news, Streamex Corp., formerly known as BioSig Technologies, has completed a $15 million public offering. The funds raised will be used to purchase gold bullion and for general corporate purposes. Following its merger with Streamex Exchange Corporation, the company has changed its name and trading symbol to Streamex Corp. and STEX, respectively. Additionally, Streamex has signed a letter of intent with Simplify Asset Management to explore the integration of its tokenized gold yield product into Simplify’s ETF structures, pending regulatory approval.

The company’s shareholders recently approved an increase in the number of authorized shares from 200 million to 500 million. Streamex has also entered a strategic partnership with Monetary Metals to develop tokenized gold products, aiming for a yield of up to 4% annually. This exclusive three-year agreement allows Streamex to tokenize Monetary Metals’ yield-bearing gold products and access its precious metals leasing and bond programs. Simplify Asset Management, managing over $10 billion in assets, is part of this exploration into tokenized commodities.

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