Hong Kong Gold Exchange Expands Gold Token Reach via Chainlink

Developed in collaboration with GoldZip and blockchain firm Midas Labs, the initiative allows the XGZ token—which represents one gram of 99.99% fine gold—to migrate across diverse blockchain architectures. Currently, the asset exists as an ERC-20 token on Ethereum, but the new infrastructure seeks to broaden its accessibility for institutional participants. The move aligns with the exchange's broader strategy to modernize precious metals trading, a process accelerated by the 2025 restructuring of the Chinese Gold and Silver Exchange Society into the current HKGX group.

GoldZip currently manages approximately 39,000 XGZ, with physical redemption options available for holders who reach the one-kilogram threshold. To ensure transparency, the project tracks allocated gold bars via serial numbers and refiner documentation. This technical shift follows a wider industry trend of adopting CCIP 2.0, a framework previously utilized by institutions like Fidelity International and SBI Digital Markets to streamline asset migration. As Hong Kong pushes to establish itself as a hub for tokenized real-world assets, the HKGX aims to bridge its century-old physical market presence with the fluid requirements of modern digital finance.