GCEX, a digital prime brokerage, has significantly expanded its institutional product suite by introducing trading for tokenized gold products. The new service allows institutional and professional clients to trade Pax Gold (PAXG) and Tether Gold (XAUT) against major stablecoins like USDC and USDT, as well as the U.S. dollar. This provides exposure to physical gold through blockchain-based instruments and is available for trading 24/7 throughout the year.
The move follows GCEX's recent addition of gold futures CFDs. Clients can now trade these gold tokens directly or via Contracts for Difference (CFDs) settled in USD, offering derivative exposure without direct token ownership. Lars Holst, CEO of GCEX Group, stated the offering represents a "natural next step" and provides clients with "efficient, fully on-chain access to physical gold."
In a parallel development, Streamex Corporation (STEX) has launched GLDY, a novel tokenized gold asset designed to generate yield. Structured on a 1:1 gold model, GLDY offers an annualized yield of up to 4%, paid monthly in gold, derived from gold leasing arrangements with Monetary Metals. The token is now trading on Streamex's platform for eligible investors and incorporates Chainlink Proof of Reserve for transparency. The launch was preceded by over $100 million in indications of interest.
Henry McPhie, CEO of Streamex, positioned GLDY as a tool to make gold an active, yield-generating asset rather than a passive holding. The initiative involves EisnerAmper for audits, Zedra as fund administrator, and counsel from firms including Walkers and Chapman Cutler.
This activity reflects a broader industry trend towards tokenizing real-world assets (RWAs), particularly gold. The news references other recent initiatives, including Standard Chartered's Libeara platform in Singapore, Matrixdock's XAUm token on Solana, and Arowana's planned gold tokenization platform on Arbitrum. These developments highlight growing institutional demand to access traditional commodities like gold through digital settlement and blockchain infrastructure.
