Key facts
- The planned token represents a standard 400-ounce gold bar, per Christopher Hui Ching-yu.
- Hui said the token references HAU, Hong Kong's gold price ticker launched earlier in the year.
- Hui described the project as an interbank tokenised gold transaction project, per the report.
- Analysts cited in the report said the project would support Hong Kong's aim to become a gold and digital trading hub.
Hong Kong planned to launch a gold token representing a standard 400-ounce gold bar, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said during the annual Fintech Week event, according to a report that did not date the announcement.
The token references HAU, Hong Kong's ticker for gold prices launched earlier in the year, Hui said. He described the effort as an interbank tokenised gold transaction project.
Analysts cited in the report said the project marked a step in the city's effort to establish itself as a hub for gold and digital asset trading. The report gave no launch date, no participants and no settlement details for the project.