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The companies are enabling secondary trading for a gold-backed stablecoin.
Blockchain tokenization infrastructure provider tZERO Group has inked a deal with Streamex, a company specializing in institutional-grade tokenization of real-world assets and commodity-backed stablecoins.
The agreement will enable secondary trading of Streamex’s new gold-linked stablecoin product, GLDY, on tZERO’s SEC- and FINRA-regulated alternative trading system (ATS).
By wrapping an institutional-grade trading architecture around the product and providing “a compliant avenue for GLDY to trade,” the aim is to fire up liquidity, price discovery, and investor participation in the coin.
Stablecoins typically aim to deliver a stable value relative to a specific asset, hence their name. Streamex’s GLDY is a gold-backed, yield-generating version that gives investors access to investment-grade gold while earning yield from institutional gold leasing. The initial GLDY launch, sized at more than $100 million, is earmarked for the first quarter of this year.
According to officials, the secondary trading infrastructure, such as that provided by tZERO, is vital for the long-term viability of tokenized asset markets. Investors, including asset managers and ETFs interested in trading the product, will be able to manage subscriptions and redemptions and support price discovery, thanks to the new offering.
Need a Reprint?- Read More:
- ATS,
- Securities Operations,
- automation,
- back office,
- blockchain,
- data management,
- gold,
- stablecoin,
- tokenization
