Streamex (NASDAQ: STEX) jumped over 30% after unveiling GLDY, a gold‑backed stablecoin targeting a pre‑sale of up to $100 million with up to 4% annualized yield, slated to begin on or before November 10, 2025.

The launch aims to capture momentum in tokenized gold, where Tether Gold (XAUt) recently surpassed $1 billion in market cap and the category now exceeds $3 billion. GLDY’s yield is a key differentiator versus incumbents like Paxos Gold (PAXG) and XAUt, which generally track spot without distributions, but it raises questions around yield funding sources, asset custody, and whether the instrument could face securities treatment depending on structure and marketing.

Execution will hinge on transparent attestations, clear redemption mechanics, and institutional‑grade storage; lacking these, adoption and exchange listings may lag. If Streamex pairs strong compliance with a defensible 4% yield, GLDY could attract yield‑seeking treasuries and traders seeking non‑USD stable value exposure.

Net‑net, GLDY pushes the RWA stablecoin playbook into yield‑bearing tokenized commodities, intensifying competition and diligence expectations in 2025.