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Hong Kong Gold Exchange announces plans to develop a digital commodities blockchain
Mars Finance reports that according to Hong Kong Wen Wei Po, the Hong Kong Gold Exchange held a New Year opening ceremony on the fourth day of the Lunar New Year for the Year of the Horse. During his speech, Chairman Zhang Deqi stated that the Hong Kong Gold Exchange has officially partnered with a subsidiary of Alibaba Group to develop a digital commodities blockchain, an international precious metals trading platform, and a clearing and settlement system. These systems will unify risk control and regulation for Hong Kong’s spot, futures, digital gold, B2C transactions, actuarial centers, and over-the-counter (OTC) trading. The construction is expected to be completed within six months, and there is hope to connect with the “Hong Kong Gold Central Clearing System” established by the SAR government.