Medical Device Firm and Tokenization Company Team up for Gold-backed Treasury
Two companies, BioSig Technologies and Streamex, are set to revolutionize the financial landscape with a groundbreaking initiative.
BioSig Technologies, a medical device firm listed on Nasdaq, and Streamex, a real-world asset tokenization company, have teamed up to raise up to $1.1 billion. This funding will support a gold-backed treasury management strategy on the Solana blockchain.
On July 8, the two companies announced a definitive agreement with a major institutional investor. They plan to raise the funds through a debenture, offering $100 million in senior secured convertible notes and an equity line of credit up to $1 billion.The debentures will convert into BioSig’s common stock. Their goal is to bring a portion of the $142 trillion commodities market onchain via Solana (SOL). This move aims to unlock liquidity,openness,and accessibility in the commodities sector.
Henry mcphie, CEO of BioSig and co-founder of Streamex, highlighted the importance of this financing. “This marks a pivotal moment for global financial markets,” McPhie said. “By merging the value of physical gold with blockchain innovation, we’re creating a scalable, high-return business model.”
Their strategy involves tokenizing gold, a trusted store of value, to enhance the financial ecosystem.The initiative, lead by Cantor Fitzgerald, Clear Street, and Needham & Company, seeks to transform how we view and manage assets. “We’re building a company that combines the stability of gold with the efficiency of blockchain technology,” he explained. The project aims to bring real-world assets, particularly gold, into the digital realm. This approach could reshape global finance, making it more accessible and transparent. The companies believe gold tokenization has the potential to surpass Bitcoin’s market presence as conventional institutions embrace tokenized assets.
Streamex sees Real-World Asset (RWA) tokenization as a game-changer. Morgan Lekstrom, co-founder of Streamex and chairman of BioSig, emphasized the transformative power of integrating gold with tokenization. “This integration represents a new era in finance,” Lekstrom noted.
Currently,the global onchain RWA value is around $24.5 billion,with $418 million on Solana. The initiative follows a merger that made BioSig one of Nasdaq’s largest gold bullion holders. CIBC World Markets advised on the deal, while Cantor Fitzgerald, Clear Street, and Needham & Company acted as placement agents.The project aims to bring a chunk of the commodities market onchain. “Our approach introduces a new value proposition for token holders,” he added.
Streamex views RWA tokenization as a major prospect. The companies aim to tap into the $142 trillion commodities market. This move could dwarf Bitcoin’s market share. The companies aim to unlock new possibilities in global finance. “This is a major milestone,” Lekstrom stated. The project seeks to leverage Solana’s capabilities to unlock new financial opportunities.
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