Hong Kong Financial Secretary: Gold can serve as a bridge between traditional finance and new finance

According to the South China Morning Post, Christopher Hui, Secretary for Financial Services and the Treasury of Hong Kong, 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, given the trend of “integration” between traditional finance and innovative finance, Hong Kong has not chosen to establish an independent regulatory body for digital assets. Christopher Hui pointed out that the market now features both gold ETFs and blockchain-based tokenized gold products.

Previously, an exchange launched Hong Kong’s first tokenized, unlisted Hang Seng Gold ETF class product.