{
  "id": 17903748,
  "title": "Tokenised gold bar to advance Hong Kong’s ambitions as digital, metal trading hub",
  "url": "https://urgent.news/2026/11/03/tokenised-gold-bar-to-advance-hong-kongs-ambitions-as-digital-metal",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T03:54:43.000Z",
  "source": {
    "name": "SCMP Business",
    "slug": "scmp-business",
    "url": "https://www.scmp.com/business/banking-finance/article/3373071/tokenised-gold-bar-advance-hong-kongs-ambitions-digital-metal-trading-hub"
  },
  "original_language": "en",
  "account": null,
  "summary": "Hong Kong is taking significant steps towards establishing itself as a global hub for digital gold trading with the launch of an interbank tokenised gold transaction project. The city's Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu, announced plans to introduce a token representing a standard 400-ounce gold bar, aligning with the HAU gold price index. This initiative builds upon the success of Project Ensemble, a pilot tokenisation and digital currency project launched by the Hong Kong Monetary Authority (HKMA) in 2024. Analysts believe that tokenised gold is a \"hot\" trend, as it combines Hong Kong's goals of becoming a global digital assets hub and a global gold trading hub. Ant Digital Technologies, a subsidiary of Alibaba Group, facilitated a cross-bank tokenised gold transaction using tokenised deposits under Project Ensemble, with China Construction Bank (Asia) serving as the custodian and paying bank. Other banks, including China Citic Bank International and the Hong Kong Gold Exchange, have also completed pilot tests using tokenised deposits for gold trading settlement. The HKMA has further advanced Project Ensemble to a new phase, where tokenised central bank money will serve as a foundation layer for 24/7 cross-border settlement, aiming to scale up tokenised gold transactions.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "Straits Times Business",
        "title": "Crypto.com to shutter consumer app in Hong Kong in February",
        "url": "https://urgent.news/2026/11/03/crypto-com-to-shutter-consumer-app-in-hong-kong-in-february",
        "published": "2026-11-03T02:55:00.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "China market regulator to encourage Hong Kong listings",
        "url": "https://urgent.news/2026/11/03/china-market-regulator-to-encourage-hong-kong-listings",
        "published": "2026-11-03T03:37:14.000Z"
      },
      {
        "outlet": "Tech in Asia",
        "title": "Crypto.com to shut Hong Kong app in February 2027",
        "url": "https://urgent.news/2026/11/03/crypto-com-to-shut-hong-kong-app-in-february-2027",
        "published": "2026-11-03T03:44:11.000Z"
      },
      {
        "outlet": "Cointelegraph",
        "title": "Crypto.com to withdraw Hong Kong consumer app citing regulatory changes",
        "url": "https://urgent.news/2026/11/03/crypto-com-to-withdraw-hong-kong-consumer-app-citing-regulatory",
        "published": "2026-11-03T05:10:19.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}