TechFlow News, May 20: According to the South China Morning Post, Hong Kong’s Financial Secretary and Secretary for Financial Services and the Treasury, Christopher Hui, stated that gold could serve as a potential bridge between traditional finance and new finance. He emphasized that Hong Kong must provide more development opportunities for its digital asset market to support its sustainable growth. He also noted that, given the “integration” trend between traditional and innovative finance, Hong Kong has opted not to establish a standalone digital asset regulatory authority. Hui pointed out that both gold ETFs and blockchain-based tokenized gold products are already available in the market.
Earlier, HSBC and Hang Seng Investment launched Hong Kong’s first tokenized, non-listed Hang Seng Gold ETF product on HashKey Exchange in April.
