Streamex addresses stock decline and operational challenges

Streamex Corp. (NASDAQ: STEX) issued a shareholder update addressing recent stock price declines and operational setbacks while outlining progress on its commodity tokenization platform.

The Winter Park, Florida-based company acknowledged that its stock has experienced downward pressure in recent months and that growth of its GLDY gold-backed token has been slower than some shareholders expected. The company attributed delays to integration issues with its Know Your Customer vendor that prevented some investor onboarding, though it stated this problem has been resolved.

Streamex reported that liquid assets and securities on its balance sheet exceeded $40 million at the end of the most recent quarter. The company said co-founders Morgan and Henry have forgone equity grants for this year to reduce dilution.

The company operates a platform for tokenized commodities and has launched GLDY as its first product. According to the update, GLDY's net asset value continues to track gold prices and has paid its first dividend to holders. The company is working on expanding GLDY's distribution through wealth-manager platforms and retirement-account custodians.

Streamex is developing secondary trading infrastructure including relationships with institutional market makers and decentralized liquidity venues. The company is also working on instant minting and redemption capabilities for same-day settlement.

The company plans to expand its platform to additional commodities including silver, copper, oil and gas. It is currently hiring a head of distribution and building out its sales team.

Streamex cited industry estimates projecting the tokenized real-world assets market at $16 trillion by 2030, though it provided no independent verification of these projections.

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