The Secretary for Financial Services and the Treasury of Hong Kong: Gold can serve as a bridge between traditional finance and new finance

According to the South China Morning Post, the Secretary for Financial Services and the Treasury, Hui Ching-yu, stated that gold can serve as a potential bridge between traditional finance and new finance. Hong Kong needs to provide more development opportunities for the digital asset market to support its sustainable growth. He also mentioned that based on the trend of "integration" between traditional finance and innovative finance, Hong Kong has not chosen to establish an independent regulatory body for digital assets. Hui Ching-yu noted that both gold ETFs and blockchain-based tokenized gold products have emerged in the market simultaneously.

Previously, HSBC and Hang Seng Investment launched Hong Kong's first tokenized non-listed Hang Seng Gold ETF category product on HashKey Exchange in April.