Hong Kong Plans Gold Tokens Tied to One Standard 400-Ounce Bar
Hong Kong plans an interbank tokenized gold trading project in which each token would correspond to one standard 400-ounce gold bar. According to Odaily, Secretary for Financial Services and the Treasury Christopher Hui said at Hong Kong FinTech Week that the project would be advanced through the Hong Kong Monetary Authority’s Ensemble project. The initiative is expected to use the Hong Kong gold reference price, HAU, as its pricing benchmark, and Hong Kong plans new arrangements for tokenized deposits to support the project.Hui also said Hong Kong Exchanges and Clearing plans to build a blockchain-based, multi-asset tokenization platform that would allow pilot trading of tokenized carbon credits. In 2027, the pilot is expected to include warehouse receipts backed by goods stored in Hong Kong warehouses recognized by the London Metal Exchange.