Hong Kong Gold Exchange collaborates with Alibaba's subsidiary Yabo Technology to develop digital commodity blockchain.

Techub News reported, according to Wen Wei Po, the Hong Kong Gold Exchange held the Bingshen Year Spring Market Opening Ceremony yesterday. Zhang Dexi, Chairman of the Hong Kong Gold Exchange, stated that to align with the SAR government's policy of establishing an international gold trading center and to strengthen trade, transaction, and logistics connections with the international gold industry, the Hong Kong Gold Exchange has officially partnered with Alibaba Group's member company, AsiaBet Technology, to develop an international precious metals trading platform, a clearing and settlement system, and a digital commodities blockchain. This platform will centrally manage risk control and regulation for businesses including Hong Kong spot, futures, digital gold, B2C transactions, actuarial centers, and over-the-counter trading. It is expected to be completed within 6 months and aims to connect with the "Hong Kong Gold Central Clearing System" established by the SAR government.