Caixin: Cloud Alpha Finance's Gold Token Product Has No Secondary Market; Gold Stored in Hong Kong Vaults

According to Caixin, Cloud Alpha Finance's gold token product has no secondary market, and the gold is stored in Hong Kong vaults. The product will be open to users who have completed Hong Kong Professional Investor (PI) certification. A relevant executive stated that the physical gold token product is "essentially not financial leverage, but the digitization of assets." In February this year, eight Chinese government departments, including the People's Bank of China, jointly issued a "Notice on Further Preventing and Managing Risks Related to Virtual Currencies," which for the first time included RWA under the regulatory framework at a policy level. The general approach is to "strictly prohibit domestic activities and strictly regulate overseas ones."

Previously, it was reported that Cloud Alpha Finance's subsidiary, Cloud Alpha Youyu, which is indirectly held by Jack Ma, launched a physical gold token product. The product is anchored by physical gold, with each unit representing 1 gram of LBMA-certified gold with a purity of 99.99%.