Key Insights:
- Streamex partners with Chainlink to secure gold-backed GLDY
- Chainlink PoR ensures GLDY is fully backed by physical gold
- CCIP enables GLDY transfers across Base, Solana, and more
- Partnership boosts Chainlink’s growing role in tokenized finance
Streamex Corp., a Nasdaq-listed platform for commodity tokenization, has formed a strategic partnership with Chainlink to provide institutional investors with greater transparency and reliability for its gold-backed stablecoin, GLDY. This collaboration will integrate several Chainlink technologies to ensure real-time verification of the stablecoin’s gold reserves, making it more secure and reliable for use across multiple blockchain ecosystems.
As part of the deal, Streamex will incorporate Chainlink’s Proof of Reserve (PoR), Price Feeds, and Cross-Chain Interoperability Protocol (CCIP) into its system. Chainlink’s PoR will ensure the stability and credibility of GLDY by providing verifiable, on-chain data about its gold reserves. This guarantees that each GLDY token is fully backed by physical gold, offering a tamper-proof way to verify the collateralization of the token. Additionally, Chainlink’s Price Feeds will deliver real-time market data for GLDY, making it more responsive to market fluctuations.
Cross-Chain Transfers Across Multiple Blockchain Networks
The integration of Chainlink’s CCIP allows GLDY to be securely transferred across multiple blockchain networks, including Base and Solana. This cross-chain functionality is essential for institutional investors who require smooth interoperability between various blockchain platforms. With GLDY now supported on more blockchains, Streamex ensures that the stablecoin remains accessible to a wider range of users while maintaining security and transparency.
This partnership marks another step in Chainlink’s expanding role in tokenized finance. Earlier this year, Backed Finance also integrated Chainlink’s PoR and CCIP for its tokenized real-world assets like stocks and ETFs, ensuring full collateralization of assets. Crypto Finance also adopted Chainlink’s PoR for its digital asset exchange-traded products, providing cryptographic verification of custodial assets without exposing sensitive wallet addresses.
The Rise of Chainlink’s Token, LINK
Chainlink’s native token, LINK, has continued to show resilience in the market, trading between $17 and $19. Analysts speculate that the token could rise further, potentially reaching $46, although a retest of lower levels might occur before any major price movement.
