Standard Chartered to Establish Gold Storage Facility in Hong Kong

TechFlow News, June 15: According to Caixin, Zhi Jizhi, Head of Markets, Financial & Strategic Clients for Standard Chartered Hong Kong, Greater China, and North Asia, stated that Standard Chartered is exploring the feasibility of establishing its own gold vault in Hong Kong and is evaluating various site options. If implemented, Hong Kong would become the first market where Standard Chartered establishes its own gold vault—and one of the few banks to do so in Hong Kong. Standard Chartered already offers physical gold trading and related options financing services to its Corporate & Investment Banking (CIB) clients; establishing its own gold vault would extend these services from trade execution and settlement to end-to-end gold trading, including custody.