GoldZip has opened a Hong Kong trading route for its gold-backed token, XGZ, through a listing on EX.IO, a licensed virtual asset trading platform, while using the city's bullion-market infrastructure as the base for a regional expansion plan.
According to GoldZip and EX.IO's product disclosure, XGZ is available on the platform's secondary market to eligible professional clients. The arrangement gives qualified market participants a locally regulated venue for trading a token that GoldZip says represents one gram of 99.99% fine gold per unit and carries contractual physical redemption rights.
The rollout, called the Hong Kong Digital Gold Expansion Initiative, places the token project closer to Hong Kong's established wholesale bullion infrastructure rather than treating gold purely as an on-chain asset. GoldZip operates under The Hong Kong Gold Exchange, according to the project's release, connecting its token framework to an institution focused on physical precious-metals trading.
XGZ listing adds a local secondary-market channel
The EX.IO listing is the initiative's most immediate operational step. It creates a Hong Kong-based secondary market channel for XGZ, subject to the platform's client-eligibility rules, and gives the project a distribution point within the territory's virtual-asset framework.
GoldZip describes XGZ as a tokenized claim linked to allocated physical gold. The one-gram denomination makes the product more divisible than standard wholesale bullion bars, although the terms supplied by the project set a higher threshold for physical redemption: holders must accumulate at least 1,000 XGZ to request delivery of a one-kilogram gold bar.
That redemption structure is likely to shape how the token is used. Smaller holdings can circulate as digital gold exposure, while physical withdrawal remains geared toward larger balances that align with wholesale bullion conventions. A kilogram bar is a common unit in institutional gold trading, but the 1,000-token requirement means an individual token does not function as a direct claim for a small retail-sized gold product.
GoldZip said transfers between wallets and withdrawals from EX.IO carry a 0.01% flat fee. The release did not provide figures for overall trading volume, outstanding token supply, custody arrangements, or the frequency with which holders have redeemed XGZ for physical metal.
Settlement pilot moves beyond token trading
The project has also been used in a tokenized settlement pilot at The Hong Kong Gold Exchange. GoldZip said XGZ served as the underlying asset in tests involving exchange member institutions and tokenized deposits.
The pilot examined Delivery-versus-Payment, or DvP, a settlement process designed to ensure that an asset and payment are exchanged together. In conventional bullion markets, physical delivery, payment confirmation, documentation and cross-border coordination can create timing and operational frictions. GoldZip said the test completed end-to-end operational verification of tokenized DvP processes and shortened settlement time compared with conventional wholesale bullion transactions.
The project's claims on improved capital velocity and cross-institution liquidity remain tied to the pilot rather than a disclosed production-scale deployment. Yet the test shows how GoldZip is positioning XGZ beyond a tradeable gold token. Its stated purpose includes using tokenized gold as settlement collateral or a settlement asset for bullion transactions.
That approach creates a more demanding use case than simply tracking the price of gold. It requires clear ownership records, trusted vault custody, rules for delivery and redemption, and systems that can coordinate cash and metal transfers across participating institutions.
Partnerships target cross-chain and stablecoin links
GoldZip is pursuing the initiative with Midas Labs, which it identifies as its ecosystem development partner. The companies said their work covers trading channels, settlement applications and physical-gold infrastructure.
The project has also connected its technical roadmap with Chainlink's Cross-Chain Interoperability Protocol, known as CCIP. GoldZip said it is participating in the rollout of CCIP 2.0 with the aim of supporting XGZ deployment across multiple blockchain networks.
Cross-chain deployment could expand the token's potential reach, but it would also add operational requirements. A gold-backed token operating on several networks needs a reliable mechanism for preventing duplicate supply, maintaining consistent redemption records and ensuring that token movements remain tied to the underlying reserve and contractual terms. GoldZip did not announce a timetable or name the additional networks planned for XGZ.
GoldZip, Midas Labs and Universal Digital Intl Limited have also signed a memorandum of understanding to explore links between stablecoin ecosystems and Asian digital-gold markets. Universal Digital is identified in the release as the issuer of USDU, a UAE-based stablecoin.
The agreement remains exploratory. The companies said they would examine possible connections between stablecoin settlement systems and tokenized gold, rather than announcing a live product or integrated trading service.
Hong Kong Gold Exchange hosts launch event
GoldZip marked the initiative with an industry event on Nov. 3 at the Trading Hall of The Hong Kong Gold Exchange. The event brought together participants from bullion, financial technology and digital-asset sectors, according to the release.
Mrs. Regina Ip Lau Suk-yee, GBM, GBS, JP, attended as Guest of Honour. Cheung Haywood, chairman of The Hong Kong Gold Exchange, also attended, alongside representatives of EX.IO. Event materials identified Daniel Wong of Midas Labs, Wu Chen of EX.IO Group and Ip Barry of GoldZip among the participants.
The next stage includes discussions around multi-jurisdictional vault arrangements and related trading infrastructure. GoldZip said this work remains at an exploratory stage and will depend on partner milestones.
The combination of a local trading venue, a settlement pilot and proposed multi-chain deployment gives GoldZip a more specific role than a conventional gold-price token. The project is attempting to connect Hong Kong's physical bullion market with digital settlement rails, while keeping redemption tied to large-format gold delivery. Whether that structure gains traction will depend on institutional use of the settlement system, the practical terms of custody and redemption, and whether the planned infrastructure partnerships move from memorandums and pilots into live services.
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