Joining me now down here on the trading floor of the New York Stock Exchange is Henry McPhie, co-founder and CEO of Streamex. Good to see you today. Thanks for taking the time. Thank you. Thanks for having me. Let's start first and foremost with an introduction to your work at StreamX. For anyone a bit unfamiliar, what would you say are the main problems that you're trying to solve?
You know, I think some of the biggest ones is commodity assets today. They are, one, can be hard for people to get access to. And two, gold traditionally is an asset that costs you money to hold, whether you're buying a gold ETF or whether you're buying physical gold. With StreamX and with our main product, GLDY, it gives the ability for investors to get direct gold exposure with a 3.5% yield on top of that. And so turning gold from an unproductive asset into an asset that actually pays you to hold it.
Talk to me a bit more about that pain point. We're talking about one of the world's oldest assets, but far too often for too many investors in their portfolio, they buy something with exposure to gold and it just kind of sits there. How are you trying to make it actually work for the people who have it?
So the yield itself is generated through something called gold leasing, which is a very old industry, has been around for a very long time. And traditionally, it hasn't really been accessible to investors. It's been something where institutions have been able to do it. And, you know, people who understand the industry have. With YieldY, we take away all those friction points and essentially give the ability for anyone to participate in this market. And the yield itself isn't generated through any crypto staking or anything risky on that side. It is a real world activity that gives the ability for people to get that yield while still earning the exposure to the gold price itself.
So you mentioned GLDY for the so-called smart money side, the institution side. Talk to me a bit more about the ways tokenized gold can actually generate yield and what should people know about GLDY as a product if they're somewhat unfamiliar.
Yeah, so I think the most important thing with GLDY is you get direct gold exposure. You own gold when you own GLDY. You also get paid additional gold every single month for holding it. And so that's around a three and a half percent yield per year. And so when you hold gold or when you hold GLDY, you get more gold every year as you as you hold it. And it's something that, like I said, the yield process is a very old industry. It is a very safe process and something that it is a liquid asset. So you can get in and out of it whenever you want.
You're also soon to launch GLDC for the retail side. What do you hope that that most opens up for the everyday investor at home?
You know, I think for us, the ability to have GLDC as an asset where anyone can participate in it. You know, somebody can go and buy a dollar of GLDC if they want. They can go, you know, buy a thousand dollars. It's up to them. But there's no KYC requirements. There's very little friction to being able to get into that asset. And because it's backed by GLDY, it's actually the only tokenized gold asset backed by productive reserves. And so it gives StreamX, you know, the company the ability to, you know, one, realize a new revenue line and also the ability for us to be able to provide incentives on, you know, different on-chain things that we can do within the ecosystem, which gets, it gets very exciting.
Speaking of on-chain and tokenization, I got less than a minute left. We've talked a lot about this last year, tokenized stocks, tokenized treasuries, now tokenized gold. What's the next big asset class to be tokenized?
I honestly, I think commodities in general are the next biggest asset class for tokenization. I think it's one of the largest asset classes in the world. It's also one of the most inefficient asset classes in the world to trade and to own and to hold. And so tokenization removes a lot of those friction points. We are excited to continue to be a leader in that space and bring tokenized commodities to the world.
Henry McPhee is the co-founder and CEO of StreamMax. Thanks a lot for being here, man. Good to have you.
