Hong Kong Unveils Gold Token Peg Standard: One Gold Token to Correspond to One Standard 400-Ounce Gold Bar

Odaily reports: Christopher Hui, Secretary for Financial Services and the Treasury of Hong Kong, stated at the Hong Kong FinTech Week that Hong Kong will soon launch an interbank tokenized gold trading project. The project will be advanced under the Hong Kong Monetary Authority's Project Ensemble, with one gold token intended to correspond to one standard 400-ounce gold bar, and will adopt the Hong Kong Gold Reference Price (HAU) as the pricing benchmark. To support the project's operation, Hong Kong will also introduce new arrangements for tokenized deposits.

Hui also revealed that HKEX plans to build a blockchain-supported multi-asset tokenization platform, allowing pilot trading of tokenized carbon credits, and in 2027 intends to include warehouse receipts stored in Hong Kong and supported by London Metal Exchange-approved warehouses in the pilot. (21st Century Business Herald)