Hong Kong's Financial Secretary Says Gold Can Bridge Traditional and Digital Finance

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According to South China Morning Post, Hong Kong's Financial Secretary Paul Chan said on May 20 that gold could serve as a potential bridge between traditional finance and digital assets, and that Hong Kong needs to provide more development opportunities for the digital asset market. Chan noted that Hong Kong has not established a separate digital asset regulator, citing a "convergence" trend between traditional and innovative finance. The market has seen both gold ETFs and blockchain-based tokenized gold products emerge; HSBC and Hang Seng Investment launched Hong Kong's first tokenized Hang Seng Gold ETF on HashKey Exchange in April.
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