By Katherine Hamilton
Biosig Technologies moved to secure $1.1 billion in financing, which it intends to use to become one of the largest holders of gold bullion on Nasdaq.
Biosig signed an agreement for the sale of $100 million senior secured convertible debentures and a $1 billion equity line of credit, it said Monday.
Biosig is a medical device technology company, but it acquired the digital assets company Streamex in May and is moving into the tokenization of real-world assets. Streamex is betting on gold tokenization, or digital currency backed by physical gold, which it is projecting will be more popular than Bitcoin.
“This financing marks a pivotal moment not only for Streamex and Biosig, but for the evolution of global financial markets,” says Biosig Chief Executive Henry McPhie, who co-founded Streamex. “By combining the value of physical gold with the innovation of blockchain, we are building a company grounded in what we believe to be the world’s most trusted store of value.”
The equity line and $75 million of the debentures are expected to close on Oct. 7, with Cantor Fitzgerald and Clear Street acting as co-lead placement agents, Biosig said.
Biosig intends to hold a large amount of gold bullion and denominate the majority of its balance sheet in physical gold rather than fiat currency. The goal is then to use Streamex’s tokenization technology to drive revenue. The gold-backed tokens are aimed to offer an efficient, low-cost way to invest in gold.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
July 07, 2025 19:28 ET (23:28 GMT)
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