Hong Kong Gold Exchange, CITIC Bank International Complete Tokenized Gold Trading Pilot
AM730 · 5 SOURCES1 day ago2 MIN
Summary
The Hong Kong Gold Exchange, in partnership with CITIC Bank International, has completed a landmark pilot test for tokenized deposit-supported gold trading under the HKMA's Project Ensemble. The test, announced during Hong Kong FinTech Week 2026 at the Hong Kong Convention and Exhibition Centre, achieved Delivery versus Payment (DvP) settlement on a 24/7 basis, marking a significant step toward modernizing gold trading infrastructure. The first cross-bank tokenized gold transaction successfully linked physical gold with the tokenized financial system, involving multiple institutional participants and leveraging the Hong Kong Gold reference price (HAU) as the pricing benchmark.
Key Points
- The Hong Kong Gold Exchange and CITIC Bank International completed tokenized deposit-supported gold trading tests under Project Ensemble, achieving 24/7 Delivery versus Payment
- The first cross-bank transaction featured Zhaojin Mining as gold issuer, CCB Asia as custodian and payment bank, BEA and CUPS as receiving banks, with Ant Group's Anvita TaaS platform providing technical support
- Each gold token represents one standard 400-ounce London Good Delivery gold bar, priced using the HAU Hong Kong Gold reference rate
- Gold prices have reached historic highs of US$4,000 per ounce, making efficient settlement infrastructure critical for this capital-intensive trade
- CITIC Bank International targets commercial launch in Q1 or Q2 next year, enabling traditional and tokenized deposits to operate in parallel
Why It Matters
This breakthrough connects Hong Kong's ambitions as an international gold trading hub with the emerging tokenized asset ecosystem, allowing physical gold to flow seamlessly into digital finance . The success positions Hong Kong to capture greater pricing influence in global gold markets while establishing a template for tokenizing other real-world assets . With regulators moving to submit virtual asset legislation to LegCo this year, the groundwork is being laid for Hong Kong to become a global digital asset innovation hub .
This breakthrough connects Hong Kong's ambitions as an international gold trading hub with the emerging tokenized asset ecosystem, allowing physical gold to flow seamlessly into digital finance . The success positions Hong Kong to capture greater pricing influence in global gold markets while establishing a template for tokenizing other real-world assets . With regulators moving to submit virtual asset legislation to LegCo this year, the groundwork is being laid for Hong Kong to become a global digital asset innovation hub .