Amaze Holdings, Inc. (NYSE American: AMZE) has signed a binding Letter of Intent (LOI) to acquire the assets of BullionFX, including its core decentralized finance platform Alchemy, in an all-stock transaction valued at $155 million. The move marks a major strategic expansion for Amaze, transitioning its core focus from creator commerce to gold-backed digital asset infrastructure.
Expansion into Gold-Backed Financial Infrastructure
Under the binding terms of the LOI, Amaze will acquire all technology, intellectual property, and operational infrastructure behind BullionFX. The acquisition arrives during an acceleration in digital asset adoption and surging settlement volumes across decentralized networks. According to data from Visa Onchain Analytics (Allium), adjusted stablecoin transaction volume climbed 125% year-over-year to $1.79 trillion in June 2026.
To capitalize on this growth, Amaze intends to prioritize launching Alchemy's self-custody retail wallet and proprietary yield engines post-closing. The company also plans to pursue regulatory approval for a listed Stable Asset Treasury ("SAT") vehicle designed for gold and U.S. dollars. Joel Krutz, Interim Chief Executive Officer of Amaze, noted that combining Alchemy with a publicly traded entity allows the company to build long-term value at the intersection of traditional asset stability and blockchain settlement.
The Alchemy Ecosystem and Ethereum Layer 2 Architecture
Alchemy operates as a full-stack financial ecosystem anchored by $GOLD, a settlement token designed to be backed 1:1 by vaulted physical gold subject to real-time third-party audits. Unlike protocols that issue tokens on external chains without native integration, Alchemy utilizes an Ethereum-based Layer 2 network where physical gold reserves sit directly inside the settlement layer.
The platform's key features and transaction terms include:
- $GOLD Token: A 1:1 gold-backed asset providing real-time auditability and transparent settlement.
- Yield Engines: Proprietary protocols generating returns across gold and USD asset pools.
- Layer 2 Infrastructure: An Ethereum-based Layer 2 network supporting cross-chain interoperability, lending, borrowing, and developer applications.
- Transaction Terms: Final closing remains subject to due diligence, definitive agreements, board approvals, and regulatory clearances.
BullionFX Founder Stephen Moss stated that public market access provides the institutional credibility needed to bridge traditional and decentralized finance. CTO Simon Rahme added that embedding gold into the Layer 2 settlement layer gives developers a stable foundation for payments and lending.
Why It Matters
The acquisition highlights a growing trend of publicly listed companies acquiring specialized Web3 infrastructure to capture institutional capital flows. As stablecoin payment infrastructure expands, tokenized real-world assets—particularly gold—are emerging as primary collateral layers for decentralized lending and treasury management.
If successfully executed, Amaze's acquisition of BullionFX provides a public market vehicle for investors seeking regulated exposure to tokenized commodities. However, investors will need to monitor regulatory approval timelines for the proposed Stable Asset Treasury vehicle, as well as the execution risks associated with scaling an Ethereum Layer 2 ecosystem.
