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About Streamex
Streamex (NASDAQ: STEX) is a technology infrastructure company focused on tokenizing real-world assets (RWAs), with an initial focus on gold. Its platform supports the issuance, transfer, settlement, and reporting of tokenized assets, while the company itself does not take commodity price exposure. The first product, GLDY, is a tokenized security backed by physical gold held with an LBMA-accredited custodian, offering yield through gold leasing. The core value proposition is to reduce operational complexity, settlement inefficiencies, and transparency gaps in traditional gold investment, targeting accredited and qualified investors.
In the six months from February to August 2026, Streamex achieved its first revenue: $0.146 million in gold lease income for Q2 2026, with total liquidity of $41.8 million. Monthly cash burn averaged $1.6 million during the quarter, projected to decline to $1.1 million. The company also loaned $5 million in USDC and 1,069 GLDY tokens to a proprietary trading firm to support secondary market liquidity; these assets are unsecured. Material weaknesses in internal controls over financial reporting remain unremediated, and reliance on a single counterparty for gold lease income and on USDC for settlement introduces concentration and stablecoin-related risks.
Streamex Corp.'s Q2 2026 (ended June 30) report shows revenue of $146,000 from gold lease income, and a net loss of $61.245 million for the first half. The company ended the quarter with $41.8 million in total liquidity, no debt, and working capital of $32.8 million. While the revenue is minimal and losses are substantial, the company maintains a strong cash position and is actively developing its tokenized gold platform (GLDY) and future products like GLDC. The performance reflects an early-stage transition with high costs and limited revenue, but liquidity provides a buffer for continued operations.
Co-founders and core executives:
Henry McPhie – Co-founder & CEO. Previously founded Lynx Web3 Solutions and FatCats Capital.
Morgan Lekstrom – Chairman & Co-founder. Former CEO of NexMetals Mining Corp., with experience in mining and capital markets.
Mitchell Williams – Chief Investment Officer. Over 20 years on Wall Street, including roles at Credit Suisse, OppenheimerFunds, and Wafra.
Christine Plummer – Chief Financial Officer. Former Global Controller at Coinbase, with prior roles at MSCI and Morgan Stanley.