Blue Gold Limited [NASDAQ:BGL], the Nasdaq-listed gold development and fintech hybrid, has expanded its relationship with UAE-based commodities trader DL Hudson Dunes, securing a $15mn gold trading facility that will allow it to undertake proprietary trades alongside its fast-growing tokenisation business.
The new facility will fund the acquisition of gold from mines and licensed aggregators around the world, tapping into Blue Gold’s existing sourcing network. The company is targeting two to three trades per month, with projected profit margins of 1–5% per transaction, modest by trading-desk standards but attractive for a company positioning itself across the entire gold value chain.
DL Hudson Dunes will partner on each trade, providing legal, compliance and commercial support to bolster execution.
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For Andrew Cavaghan, Blue Gold’s chief executive, the facility marks a key milestone in what he describes as a vertically integrated gold monetisation model. “Our relationship with DL Hudson Dunes enables us to create two distinct revenue streams and value drivers for our shareholders,” he said.
Tokenisation of physical gold
The first comes from the tokenisation of physical gold, an area where the group is attempting to build scale. Each time Blue Gold creates and sells a gold-backed token, it earns on-ramp fees of up to 3%. Once in circulation, those tokens generate recurring revenue of about 0.02% per transaction whenever they change hands, effectively mimicking assets-under-management fees for a digital asset class. A 1 million-ounce gold supply agreement, announced earlier this month with DL Hudson Dunes, gives Blue Gold capacity to create about $4.2bn worth of gold-backed tokens at current prices.
The second revenue stream is the proprietary trading operation enabled by the new facility. By purchasing gold upstream at a discount through established relationships with licensed producers, Blue Gold expects to capture additional spread before any metal enters its tokenisation pipeline. The new facility would support $30mn–$45mn of monthly trading volume, with a targeted net profit margin of 1–5%.
Cavaghan also signalled ambitions to move deeper into production. The company is preparing for the anticipated restart of the Bogoso and Prestea mines, pending resolution of a lease dispute, and it is evaluating additional acquisitions across West Africa and Latin America.
Securing operational control at the mining level, Cavaghan said, would allow Blue Gold to tap into “larger gold production margins” rather than merely those available in trading or tokenisation.
Blue Gold’s payments ambitions
Downstream, the company aims to expand into payments. A planned fintech wallet, expected in Q3 2026, will allow holders of the Standard Gold Coin, the company’s tokenised gold instrument, to spend their assets through the “One App”, including via a branded debit or credit card. Blue Gold expects this to improve token liquidity and generate incremental fee income.
“Overall, our business is focused on capturing margin at each stage of the gold production, tokenisation and spending lifecycle,” Cavaghan said. The blend, he argues, will combine high-quality recurring revenue with higher-margin transactional income, a mix designed to appeal to investors seeking exposure both to the gold economy and to emerging digital-asset infrastructure.
DL Hudson Dunes, headquartered in Dubai, brings global expertise in ferrous and non-ferrous metals, energy products and recycled materials, with reach across Europe, Asia-Pacific and the Americas. For Blue Gold, the partnership provides not only capital but credibility in an increasingly competitive market for tokenised commodities.
As the company pushes further into the intersection of mining, trading and blockchain-based monetisation, it is betting that gold’s centuries-old stability can be re-packaged for a new generation of investors, and monetised at every step along the way.
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