BioSig, Streamex to Raise $1.1B for Gold Tokenization Initiative on Solana

5 hours ago

BioSig Technologies (BSGM), a medical-technology institution caller disconnected a merger with tokenization steadfast Streamex, said it signed definitive agreements for up to $1.1 cardinal successful financing to money a gold-backed treasury exemplary and standard its tokenization level for real-world assets (RWAs) similar golden and different commodities.

The superior rise includes $100 cardinal successful elder secured convertible debentures and a $1 cardinal equity enactment of credit. The debentures accrue 4% involvement and are convertible into communal shares, giving holders the rights to a sizable equity position. Under the equity enactment of credit, the steadfast whitethorn contented caller shares and merchantability up to $1 cardinal of communal banal to investors for up 36 months.

BSGM shares plunged arsenic overmuch arsenic 43% to $6.54 connected Tuesday pursuing the announcement, possibly connected concerns astir imaginable shareholder dilution. The terms stabilized aboriginal astir $9, down 20% during the day. The company's marketplace capitalization is astir $1 cardinal astatine existent prices, according to Yahoo Finance data. Still, it is up astir 600% since the 2 firms announced their merger connected May 5.

Gold treasury strategy

A slew of companies person precocious said they are pivoting to a crypto treasury strategy, raising superior by selling shares and issuing indebtedness and investing successful tokens similar bitcoin (BTC) and Ethereum's ether (ETH).

BioSig is taking a antithetic approach. The merged entity is positioning itself arsenic a golden treasury institution portion betting connected the red-hot tokenization trend. Tokenized assets, oregon accepted instruments similar stocks, funds and commodities connected blockchain rails, are projected to go a multitrillion dollar marketplace implicit the adjacent years, reports by BCG, McKinsey and Standard Chartered said.

The institution plans to clasp carnal golden done a top-tier bullion slope and denominate overmuch of its equilibrium expanse successful the yellowish metallic alternatively than fiat currency.

Meanwhile, Streamex plans to contented tokens backed by golden and different commodities done its level built connected the Solana (SOL) blockchain.

"By combining the worth of carnal golden with the innovation of blockchain, we are gathering a institution grounded successful what we judge to beryllium the world’s astir trusted store of worth portion enabling a scalable, high-return concern exemplary done tokenization," BioSig CEO and Streamex co-founder Henry McPhie said successful a statement.

"Our ngo is to unlock liquidity, transparency, and accessibility crossed the $142 trillion commodities market, and this milestone is conscionable the beginning," helium added.

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