The Hong Kong Gold Exchange, recognized as the world’s fourth-largest gold trading venue by volume, is advancing plans to enable cross-chain transfers of its gold-backed XGZ token. Announced on October 27, 2026, the initiative involves GoldZip, the token’s issuer linked to the exchange, and blockchain development firm Midas Labs integrating Chainlink’s Cross-Chain Interoperability Protocol.

XGZ currently functions as an ERC-20 token on Ethereum. Each unit corresponds to one gram of 99.99% fine gold stored in accredited vaults recognized by the exchange. The integration aims to allow secure movement of the token across additional supported blockchain networks once completed.

Details of the XGZ Token and Backing

GoldZip launched the XGZ token in December 2025. It is divisible into units as small as 0.00000001 XGZ, permitting transfers of fractional gold amounts. The sender pays a transaction fee of 0.01% of the transferred value.

Physical redemption is available starting at 1,000 XGZ, equivalent to one kilogram of gold. Eligible holders must satisfy anti-money laundering and know-your-customer requirements. As of late October 2026, approximately 39,000 XGZ tokens were in circulation, corresponding to about 39 kilograms of physical gold and a market capitalization near $5 million. The token trades on Uniswap and MEXC.

GoldZip maintains a transparency page listing allocated gold bars with serial numbers, refiners, weights, and storage details. Reserve information is updated periodically. The company has outlined plans to expand physical gold reserves to around $300 million. Independent audit reports are listed as forthcoming.

Role of Chainlink CCIP and Partners

Chainlink’s CCIP provides a standardized framework for transferring tokens and messages between separate blockchain networks. Issuers retain control over asset movement while relying on the protocol’s infrastructure for processing. GoldZip was named among the integration partners for CCIP 2.0, which launched on September 28, 2026, with features designed for institutional digital assets and cross-chain activity. Other partners included entities such as Deutsche Börse Group’s Crypto Finance, Fidelity International, Google Cloud, and SBI Digital Markets.

Midas Labs serves as GoldZip’s designated Web3 development partner. The firm supports blockchain infrastructure, tokenized commodity trading, and connections between physical gold reserves and digital markets. This collaboration builds on an earlier partnership focused on developing a digital gold trading ecosystem for institutional participants.

HKGX Chairman Haywood Cheung stated that the exchange needed to explore blockchain-based trading and digitize transactions as financial markets adopted new technology. The exchange traces its history to 1910 and succeeded the Chinese Gold and Silver Exchange Society following a restructuring effective January 2025. It has nearly 150 institutional members and provides trading infrastructure for precious metals in Hong Kong.

Issuer Update and Broader Context

Separately, GoldZip announced a change in its token issuance structure. GoldZip Company Limited, incorporated in the British Virgin Islands and part of the HKGX group, is set to replace Singapore-based GoldZip Pte Limited as the issuer. The new entity is expected to assume existing responsibilities, including liabilities related to token redemption. Holders have until November 5, 2026, at 11:59 p.m. UTC to submit objections.

Hong Kong’s September policy address outlined measures supporting tokenized real-world assets, including gold, through licensed trading platforms. The CCIP integration positions the XGZ token for wider blockchain access while maintaining its physical gold backing and redemption conditions.

No specific launch date for the full cross-chain functionality or complete list of supported networks has been provided. Further operational details are expected in subsequent updates.