- Hong Kong plans to introduce tokenised gold for interbank transactions, with each digital token representing a physical 400-ounce (12.4-kg) gold bar.
- The project will use HAU as its gold pricing reference and build on the HKMA’s Project Ensemble framework.
Hong Kong is preparing to introduce a tokenized gold project that will allow banks to conduct transactions using digital tokens representing physical gold bars weighing 400 troy ounces, or approximately 12.44 kilograms.
Christopher Hui, the city’s Secretary for Financial Services and the Treasury, announced the plan on November 2 during Hong Kong FinTech Week 2026. He said the interbank tokenized gold transaction project would start soon, although officials have not provided a specific launch date.
The proposed token will use HAU, Hong Kong’s gold price reference, to determine the value of the underlying bullion. Tokenized bank deposits will also be used to support transactions between participating financial institutions.
The project will build on the Hong Kong Monetary Authority’s (HKMA) Project Ensemble, an initiative launched in 2024 to test the use of tokenized money and digital assets in financial transactions.
Project Builds on Hong Kong’s Digital Settlement Plans
The announcement comes as Hong Kong expands its infrastructure for tokenized financial assets. On November 2, the HKMA said its EnsembleTX pilot had moved to 24-hour settlement of tokenized deposit transactions using tokenized central bank money.
The pilot now includes 12 participating banks and 20 industry pioneers. The expanded system allows institutions to settle transactions outside conventional banking hours.
However, the gold-token project and the 24-hour settlement upgrade are separate announcements under the broader Project Ensemble framework.
Hong Kong has also been developing its physical gold market. Its central gold clearing and settlement system began trial operations on July 7, 2026, with a formal launch targeted for the first quarter of 2027.
Officials have not yet disclosed the proposed gold token’s issuer, blockchain network, custody arrangements or whether it will be available to retail investors. The announcement currently focuses on transactions between financial institutions, rather than a product for individual buyers.
