Yield-bearing tokenized gold officially enters the market on February 25, 2026. On this day, Streamex launches GLDY on the Base blockchain — a tokenized security backed 1:1 by physical gold. The product is positioned as one of the first regulated digital securities offering direct exposure to LBMA-certified gold while targeting up to 4% annual yield paid in additional ounces.
This is not a stablecoin.
It is not a traditional gold ETF either.
Instead, GLDY operates under Reg D 506(c) and limits access to accredited investors.
So how does it work, and why does it matter for the RWA market?
What GLDY Actually Is
Each GLDY token represents one fine troy ounce (31.1035g) of LBMA-certified gold stored in insured tier-1 vaults.
Here is how the model works:
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Streamex acquires physical gold and stores it in secure vaults.
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The company leases up to 95% of that gold through Monetary Metals.
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Refiners, mints, and jewelry manufacturers pay to use the metal.
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Streamex converts the income back into physical gold.
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The company mints additional GLDY tokens and distributes them to holders monthly.
Currently, projected yield stands at around 3.5% annually, with a target of up to 4%.
GLDY runs as an ERC-20 token on Base. Chainlink provides Proof-of-Reserves. Fireblocks, tZERO, Zedra, and EisnerAmper support the launch infrastructure.
In addition, Streamex trades publicly on NASDAQ under the ticker STEX. That listing adds institutional weight to the structure.
Why Launching on Base Matters
Streamex did not choose Base randomly.
As we explained in our analysis, “Base vs Arbitrum: The Great RWA Liquidity Tug of War in 2026,” Base increasingly serves regulated, institution-focused RWA issuers.
Because Base aligns with Coinbase and U.S. compliance standards, it offers a logical settlement layer for public companies. Therefore, GLDY fits naturally into this infrastructure.
In other words, the launch reinforces an existing trend rather than creating a new one.
Why Holding Gold Looks Different in 2026
Traditional gold ownership does not generate yield. Investors depend entirely on price appreciation.
However, GLDY introduces a productive structure. Instead of sitting idle, gold generates income through leasing.
| Metric | Physical Gold / ETF | GLDY |
|---|---|---|
| Yield | 0% | 3.5–4% in gold |
| Storage | Fees | Yield offsets storage |
| Settlement | T+2 | On-chain |
| Transparency | Periodic audits | Chainlink Proof-of-Reserves |
| DeFi Integration | None | Potential |
The key difference lies in the payout structure. GLDY distributes yield in ounces rather than fiat.
As a result, even if gold prices remain flat, the holder’s position may grow in physical terms.
How GLDY Differs from XAUT and PAXG
XAUT and PAXG mirror the price of gold. They do not generate operating income.
By contrast, GLDY relies on a leasing model through Monetary Metals. Streamex keeps the gold within the gold ecosystem rather than selling it to buy external yield products.
Therefore, GLDY functions more like an income-generating security than a simple gold-backed token.
Who GLDY Targets
GLDY focuses on:
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Accredited investors
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Institutional asset managers
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ETF strategists
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DeFi participants seeking gold-backed collateral
The company restricts access under Reg D 506(c). Investors must complete KYC and accredited verification.
Consequently, retail investors cannot participate.
Risks to Consider
Every structured product carries risk.
First, secondary liquidity remains limited. Investors must use tZERO ATS or rely on regulatory exemptions.
Second, the leasing model introduces counterparty exposure.
Third, regulatory frameworks may evolve.
Finally, gold prices can fluctuate.
Although the structure increases transparency, it does not eliminate risk.
What GLDY Signals for RWA
In 2025, most RWA discussions focused on potential.
In 2026, structured yield products have started to launch.
GLDY moves beyond simple tokenized exposure. Instead, it demonstrates how real-world assets can integrate into programmable infrastructure while remaining compliant.
This is not disruption. Rather, it signals market maturation.
🎷 The Crypto-Jazz Editorial View
We do not treat GLDY as hype.
Instead, we see it as part of a broader structural shift. Traditional assets now enter on-chain markets through regulated frameworks.
Gold remains gold. However, in 2026, it no longer needs to remain passive.
Whether GLDY becomes a long-term benchmark remains uncertain. What matters more is the direction of travel: regulated, yield-bearing RWAs now operate live on Layer 2 infrastructure.
We will continue tracking which models prove durable and which remain experimental.
📡 We publish short RWA updates and institutional insights on Telegram before full reports appear on the site. If you follow infrastructure rather than noise, stay with Crypto-Jazz.
(This article is for informational purposes only and does not constitute investment advice. GLDY access remains restricted to accredited investors.)