GoldZip Supports HKGX in Completing Tokenised Gold Settlement Pilot

Hong Kong Gold Exchange and China CITIC Bank International complete tokenised deposits pilot for gold trade settlement, with XGZ as the underlying asset.

At Hong Kong FinTech Week, China CITIC Bank International and the Hong Kong Gold Exchange announced the completion of their pilot on tokenised deposits for Delivery-versus-Payment (DvP) settlement of gold trades. The pilot (connected to HKMA’s Project Ensemble) tested both intra-bank and interbank settlement, reducing settlement time to minutes. Commercial launch is targeted for 2027, running alongside traditional deposits.

Serving as the underlying asset for The Hong Kong Gold Exchange’s (HKGX) tokenised gold transaction settlement pilot with China CITIC Bank International, XGZ supported the trial testing of gold trade settlement utilising tokenised deposits.

Actively participated in by member institutions of HKGX, the pilot achieved end-to-end operational verification of gold transactions settled via tokenised deposits, establishing a solid practical foundation for the digitised development of Delivery-versus-Payment (DvP) in gold trading.

The pilot demonstrates the tangible commercial value of tokenised gold by drastically compressing settlement times compared to conventional wholesale bullion trades. This model directly addresses operational bottlenecks for member dealers and refineries in physical spot delivery and cross-border trade settlement, significantly enhancing capital velocity and cross-institution liquidity across the precious metals industry.