Amaze Holdings (NYSE: $AMZE) has signed a binding letter of intent to acquire the assets of BullionFX, including its Alchemy platform, in a stock deal valued at approximately $155 million, the company announced Tuesday.
The assets include the technology, infrastructure and intellectual property behind a blockchain-based financial ecosystem built around physical gold. If completed, the deal would move Amaze, currently a creator-commerce platform, into gold-backed digital asset infrastructure. Under the LOI, Amaze would issue a significant amount of common stock to BullionFX, with final terms subject to due diligence, regulatory review and board approval from both companies.
Alchemy's core token, $GOLD, is designed to be backed one-to-one by vaulted, independently audited physical gold, with reserves intended to carry real-time third-party attestation. The platform supports lending and borrowing protocols, yield products, and cross-chain interoperability, running on an Ethereum (CRYPTO: $ETH) based Layer 2 network. Following a closing, Amaze plans to prioritize a self-custody retail wallet and pursue a listed Stable Asset Treasury vehicle for gold and USD, pending regulatory approval.
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Amaze interim CEO Joel Krutz called the deal a rare window for infrastructure built on both crypto's renewed momentum and gold's role as a store of value while BullionFX founder Stephen Moss framed the deal as giving Alchemy the access and institutional credibility to accelerate its mission.
Alchemy co-founder and CTO Simon Rahme noted that the platform's Layer 2 network was engineered so gold sits inside the settlement layer itself rather than on top of it.
Stablecoin transaction volume has climbed sharply in the meantime, reaching $1.79 trillion in adjusted volume in June, up 125% year over year, according to Visa Onchain Analytics.
Shares of Amaze Holdings (NYSE: AMZE) are currently trading at 0.075
