Hong Kong Gold Exchange integrates Chainlink for XGZ token

The Hong Kong Gold Exchange (HKGX) is integrating Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable its gold-backed XGZ token to move securely across different blockchain networks. The initiative is being implemented by GoldZip and Midas Labs.

Each XGZ token represents one gram of 99.99% fine gold held in accredited vaults. While currently deployed on Ethereum, the integration will allow the asset to access other supported blockchains. Eligible holders can redeem tokens for physical gold, provided they meet a minimum requirement of one kilogram (1,000 tokens) and pass AML/KYC checks.

HKGX, established in 1910, is recognized as Hong Kong’s only official gold exchange and is the world’s fourth-largest gold trading venue by volume. GoldZip has indicated plans to expand physical gold reserves to a target of $300 million, which would significantly increase the token's market capitalization from its current level of approximately $5 million.