I too have been scratching my head about Metalstreams but this has answered a bunch of them:
MetalStream Update 11 January 2021
Dear Token-holder,
MetalStream (the “Company”) is committed to delivering regular updates to holders of
MSGLD. This is the first of our regular newsletters to token-holders that will keep you
informed about MetalStream’s progress along our development roadmap.
2020 was a year of significant growth for both the gold bullion and blockchain markets.
As MetalStream looks forward to an exciting 2021, we address our current position and
the next milestones to be achieved. In this update, we cover our recent activities,
including the MSGLD private placement, along with our impending public offer and
exchange listing. We also preview what the future holds for MetalStream.
MSGLD Offering & Listing Private Placement MetalStream is pleased to announce that the private placement of 2,800,000 MSGLD
has now closed and the offer was fully subscribed. This success was achieved through
the committed work of our management team and reached without the need for
advertising expenditure. The strong global support for MSGLD has been encouraging
and reflects the market’s appetite for this asset class.
The success of the private placement has given MetalStream a strong foundation from
which to launch the public offer of MSGLD.
Public Offer The public offer of 5,200,000 additional MSGLD has been delayed, due to disruptions
related to COVID-19. Amongst other things, international travel restrictions have slowed
the movement of key personnel, adversely impacting our trading schedule.
Consequently, MetalStream does not yet hold the bullion reserves necessary to issue
new MSGLD for the public offer.
Although our schedule has been delayed, MetalStream is actively working on several
gold bullion trades. Proceeds from these trades will be used for the public offer. The
exact date is yet to be confirmed, but we are still targeting Q1 2021 for the public offer.
The price of MSGLD in the public offer will be set closer to the opening of the offer but is
expected to be around USD 57.00 per MSGLD token, which is about a 5% discount to the
MetalStream Update - January 2021 Page 1 of 8
spot price of gold. Note that each MSGLD is backed by 1 gm of gold bullion in vaulted
storage.
DSX Asia, the planned secondary market exchange for MSGLD trading, has recently
forged impressive new distribution channels into both the Institutional and HNW (high
net worth) investor markets. Capitalizing on these channels and the prevailing positive
market conditions, MetalStream expects to generate a high degree of visibility for the
MSGLD public offer.
Exchange Listing The secondary market listing of MSGLD on DSX Asia has been delayed, again due to
COVID-19 related logistical issues. However, it is expected that the listing will take place
immediately after the public offer is closed.
DSX Asia & MSGLD Management DSX Asia was formed as a response to demand from clients for an integrated platform to
issue and manage digital securities in a compliant manner.
The DSX Asia token management platform MetalStream Update - January 2021 Page 2 of 8
DSX Asia’s mission is to lead the world in the issuance, offering, and trading of fully
regulated digital security tokens, driving the evolution of capital markets.
In pursuit of this mission, they are creating an ecosystem of domestically licensed digital
security exchanges across Asia, sharing a technology platform, listings, investors, and
liquidity. Aside from Labuan, DSX Asia has existing subsidiaries in Hong Kong, New
Zealand and Singapore, and is preparing to register subsidiaries in Australia, Indonesia,
Vietnam, Japan, China, and Malaysia. These initial markets will then be joined by Russia,
India, Thailand, Taiwan, and South Korea in 2021.
DSX Asia has an aggressive growth strategy, driven by JV partnerships, investments, and
acquisitions in its target markets. This growth strategy will ensure that DSX Asia has the
platform, licenses, and liquidity to enable MSGLD to be successfully traded across a wide
market.
Platform Upgrade As DSX Asia prepares to launch its primary and secondary marketplaces, they have
upgraded the existing token management platform.
Highlights of the upgraded platform include the following:
New web address,
https://investor.dsx.asia . This allows token-holders of all tokens
issued on the DSX Asia platform to access and manage their tokens from one
location, rather than needing to visit an issuer-specific page (such as for MSGLD).
Token-holders are now authorised to hold any of the tokens issued on the DSX Asia
platform. This means you will be able to participate in any upcoming primary offers
without needing to provide further KYC/AML documentation and will be able to
buy/sell tokens on the secondary market.
Ability to see all tokens issued on the platform, and switch between them (e.g. EGX,
MSGLD, etc).
Management of your profile, which means you can now update your details such as
address and phone number.
Ability to transfer tokens from within the DSX Asia platform, without needing to
use MetaMask or a third party software to initiate the transaction.
Access to live support from within the platform.
Additional features will be live in Q1 2021 as DSX Asia prepares for their primary and
secondary market launches.
Using the Platform To login to the DSX Asia platform and manage your MSGLD holdings, you will first need
to create an account (if you created an account on the old MetalStream management
MetalStream Update - January 2021 Page 3 of 8
page provided by DSX Asia, you can skip this step and login directly, as your old
username and password will still work):
1. Open your web browser and go to
https://investor.dsx.asia 2. Select “Create your account”
3. Enter the email address associated with your ONCHAINID (e.g. the email address
that you used for your initial subscription, or that you are receiving this update via)
4. Enter a password, which is a minimum of 8 characters, and includes at least 1 letter
and 1 number. Confirm the password by entering it again.
5. Select the checkbox to indicate your agreement to the Terms & Conditions.
6. Select “Sign up”
Creating an account with DSX Asia After you have created an account, you will be able to sign into DSX Asia:
1. Open your web browser and go to
https://investor.dsx.asia 2. Enter your email address and password
3. Select “Sign in”
Viewing MSGLD via MetaMask Aside from the DSX Asia platform, you can use Etherscan.io , MetaMask , or any
third-party wallet that supports ERC-20 tokens. To view your MSGLD holdings in your
MetaMask wallet, you will need to first add the MSGLD token contract to your account:
1. Open MetaMask
2. Click on the Menu button
3. Scroll down and click “Add Token”
MetalStream Update - January 2021 Page 4 of 8
4. Click “Custom Token”
5. Add 0x3054c53193f7c8624628a5ce0949c56da94443d6 into the “Token
Contract Address” field
6. Click “Next”
7. Click "Add Tokens"
If you have any questions, please don’t hesitate to contact DSX Asia via the chat on their
application or via email to
support@dsx.asia .
Metal Trading & Acquisition Impact of COVID-19 The COVID-19 pandemic has impacted the company in three main areas: Banking, Travel
and Logistics.
Banks in general across Southeast Asia have been impacted, making banking
transactions more difficult and much slower than usual. Furthermore, bank compliance
departments have been more demanding. To mitigate the banking issues, the Company
has opened new banking relationships.
Indonesia, Malaysia, and Thailand are all still in varying degrees of lockdown, resulting in
restrictions on individual movement, and impacting some business activities.
Malaysia has imposed restrictions on travel in and out of the country, with citizens and
employment pass-holders requiring approval to leave and re-enter the country. Malaysia
has also barred people from entering the country if they come from a high COVID-19
origin, such as Indonesia.
As you would expect, these restrictions have resulted in considerable business
disruption, and we expect them to stay in place for a significant portion of this year. This
has meant it has been impossible for us to conduct our planned business in Indonesia
and Thailand, restricting the face-to-face meetings and wet signatures required for
contract negotiation and execution, approval of trade finance, issuance of financial
instruments, etc.
Completion of physical metals trades has been very difficult with the operating and
travel restrictions imposed by COVID-19. However, MetalStream is currently negotiating
trades with counterparties in Uganda, Japan and Tanzania, which will underpin future
issuances of MSGLD.
Commitment to Ethically Sourced Gold Working with gold resources carries an ethical responsibility to ensure gold is not
sourced from within conflict zones, mined using child labour, or is the product of other
criminal activities. MetalStream is committed to issuing tokens backed by gold bullion
that is ethically sourced. The Company stands by this commitment and refuses to handle
gold that does not meet our high ethical standards.
MetalStream Update - January 2021 Page 5 of 8
Industry Overview Gold Price Gold Spot Price 2020 - Source At present, the price of gold is around USD 61.45 per gram, which means MSGLD tokens
are valued at the same price. The 6-month gold price cycle hit bottom during November
2020 and it is conceivable that gold’s price could reach new heights of between USD
75.00 and 90.00 per gram by the end of 2021 (up to USD 3,000 per oz).
Cryptocurrency Prices BTC Price 2020 - Source MetalStream Update - January 2021 Page 6 of 8
Bitcoin recently achieved an all-time peak price of over USD 40,000 with Ethereum also
hitting an all-time high of over USD 1,100. These record prices have increased visibility
and investor focus on digital assets, including digital security tokens such as MSGLD. The
convergence of high prices for both gold and cryptocurrencies have created the ideal
climate for MSGLD’s impending public offer.
Market Analysis The rising prices for both gold and cryptocurrencies reflect the recent monetary policies
of central banks. In an attempt to revive US markets, the Federal Reserve implemented a
policy of “
unlimited ” quantitative easing. The Fed’s balance sheet exploded by over USD
4 trillion during 2020, leading many economists to speculate that this could trigger a
period of hyperinflation . If this occurs the value of the US dollar would plummet, and as
we have pointed out in MetalStream’s Twitter feed , central banks might be forced to
back their currencies with gold. Although devastating for the global economy in the
short-term, these scenarios would benefit gold investors. We regularly cover these
topics on MetalStream’s Medium channel .
Because MetalStream’s MSGLD is a digital security backed by gold, it is directly
impacted by the markets for gold, cryptocurrencies and blockchain. All three of these
markets broke new records during 2020, and with central banks continuing to erode the
value of fiat currencies , these trends are expected to continue. Major banks such as the
Bank of America and Goldman Sachs are predicting new record prices for gold in 2021,
while the global market capitalization for cryptocurrencies recently reached USD 1
trillion. These trends are expected to continue with JPMorgan predicting that Bitcoin
could surge to USD 146,000 and global investment firms such as SkyBridge Capital
making multimillion-dollar cryptocurrency investments.
Perhaps the most interesting development impacting MSGLD during 2020 was the
growth of the security token industry. A report by the World Economic Forum estimates
that tokenized markets could be worth up to USD 24 trillion within the next 6 years.
Another study estimates that 90% of the world’s 2 billion new members of the middle
class will come from the Asia Pacific region, making it ideal for security token adoption.
Major institutions are gearing up to participate in this growth with global banks such as
HSBC promoting the “
10x potential of tokenization ”.
What’s Next? We have been working hard on several new initiatives, including the development of
other precious metals tokens. This year we plan to offer silver, platinum, palladium, and
rhodium to our token offerings, along with an innovative new managed portfolio token.
MetalStream will shortly be announcing the appointment of our new CEO, along with
other key members to the Company. These exciting developments will strengthen the
management team and bring valuable industry relationships to MetalStream.
MetalStream Update - January 2021 Page 7 of 8
The convergence of depreciating fiat currencies, alongside strong gold and
cryptocurrency markets forecast a bright future for MSGLD in 2021. The public offer and
exchange listing are only the first major milestones in an exciting roadmap we have
planned for MetalStream. There are significant opportunities in this vibrant marketplace
that our team will capitalize on.
We are proud to have you with us on this exciting journey.
Regards,
Rohan Cavaliero Managing Director
rohan@metalstream.io Further information about MetalStream and MSGLD can be found on MetalStream’s
website at
www.metalstream.io . Enquiries should be directed to
support@metalstream.io .
MetalStream