Hong Kong plans to launch interbank tokenized gold trading, with each token representing a 400-ounce gold bar.

TechFlow: On Nov. 5, according to statements released by the Hong Kong SAR government, Paul Chan, Director of the Financial and Treasury Bureau, said on Nov. 2 that an interbank gold tokenization trading project will launch in the near future.

The project will utilize the Hong Kong Monetary Authority's Project Ensemble, with each gold token representing a standard 400-ounce gold bar. Trades will be priced using the Hong Kong Gold Reference Price (HAU) and will be accompanied by the use of tokenized deposits.