With eyes on tokenized gold, the companies plan to merge and launch a gold-backed treasury business.
BioSig and Streamex have secured $1.1 billion in growth financing to support their pivot into onchain commodities, starting with gold.
The companies, which signed a letter of intent to merge on May 5, say the funding will help establish a gold-backed treasury business focused on tokenized financial instruments. Of the total funding, $100 million comes in the form of convertible debentures, while the remaining $1 billion is an equity line of credit.
BioSig’s share price has fallen 27.4% on the news on Tuesday, though it is still up 541% in the past six months.
