Streamex Acquires 9.9% Equity Interest in Empress Royalty

Needham initiated coverage of Streamex with a Buy rating and $12 price target. Streamex is an early mover in the fast-growing market for tokenized real-world assets, launching with GLDY, a tokenized gold product offering roughly 4% yield and potential to exceed $1B in issuance, the analyst tells investors in a research note. The company benefits from strong distribution partners, a differentiated product, and significant operating leverage as the platform scales, the firm says.