Hong Kong Gold Exchange Partners with Alibaba Affiliate for Blockchain Development

The Hong Kong Gold Exchange is set to undergo significant changes with the announcement of its partnership with a subsidiary of Alibaba Group.

According to sources, the collaboration will see the development of a digital commodity blockchain, an international precious metals trading platform, and a clearing and settlement system. The new infrastructure is expected to cover various areas including spot trading, futures, digital gold, BtoC transactions, actuarial centers, and over-the-counter (OTC) trading.

The project's construction timeline is estimated to be six months, with plans to integrate the new systems with the existing Hong Kong Gold Central Clearing System. The introduction of this cutting-edge technology will undoubtedly bring about significant improvements in efficiency and transparency within the industry.