{
  "id": 1859983,
  "title": "Hong Kong Gold Exchange taps tech strength in joint venture to power gold settlement",
  "url": "https://urgent.news/2026/08/19/hong-kong-gold-exchange-taps-tech-strength-in-joint-venture-to-power-1859983",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-19T03:28:54.000Z",
  "source": {
    "name": "SCMP Business",
    "slug": "scmp-business",
    "url": "https://www.scmp.com/business/china-business/article/3364508/hong-kong-gold-exchange-taps-tech-strength-joint-venture-power-gold-settlement"
  },
  "original_language": "en",
  "account": "The Hong Kong Gold Exchange (HKGX) and TGX Technology have joined forces to create a new gold trading and clearing platform. The aim is to build a system that is secure, stable, and globally competitive, as Hong Kong strives to become a major gold trading hub. The new platform, called HKGXTS, will be developed using technology from partnerships with Alibaba Cloud and Hundsun Technologies.\n\nHKGXTS Chairman Haywood Cheung, who also chairs HKGX, stated that the venture will significantly enhance Hong Kong's gold trading infrastructure. The system is scheduled to begin pilot operations in the first quarter of 2027. Built on physical gold delivery capabilities, HKGXTS aims to create a multi-tier bullion trading and investment platform.\n\nInitially, the platform will combine HKGX's existing products, trading, and settlement and clearing services into a single, unified system. Later, it will expand to include digital offerings, such as gold tokenisation support. Sun Ho, HKGXTS CEO, highlighted that the platform will leverage financial technology to improve trading efficiency, lower costs, and support multicurrency pricing and settlement.\n\nDuring the first board meeting, HKGXTS outlined its development strategy and plans for building the trading system. They aim to gradually expand into areas like international market access, digital gold real-world assets, and cross-market expansion. Hong Kong is actively working towards becoming a regional gold trading hub, aiming to increase bullion-storage capacity to over 2,000 tonnes in three years. They have also launched a trial of a central clearing and settlement system and are seeking regional central banks to hold their reserves in the city.",
  "summary": "The Hong Kong Gold Exchange (HKGX) and TGX Technology have launched a joint venture to build a “secure, stable and internationally competitive” gold trading and clearing platform, as the city pushes to become a gold trading hub. Hong Kong Gold Exchange Trading System (HKGXTS) would draw on technology partners, including Alibaba Cloud – which backs TGX Technology – and Hundsun Technologies, to…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Reuters Business via SCMP",
        "title": "US Democrats rebuke Trump for easing sanctions on Beijing, Hong Kong officials",
        "url": "https://urgent.news/2026/08/18/us-democrats-rebuke-trump-for-easing-sanctions-on-beijing-hong-kong",
        "published": "2026-08-18T22:46:44.000Z"
      }
    ]
  },
  "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."
}