Paul Chan: Gold could be a potential "bridge" connecting traditional and new finance

On May 20, according to the South China Morning Post, Hong Kong Secretary for Financial Services and the Treasury Christopher Hui stated at the Global Prosperity Summit that gold can serve as a potential "bridge" connecting traditional finance and new finance, promoting the development of the digital asset market through technologies such as blockchain. Hui mentioned that Hong Kong does not have an independent digital asset regulatory body, which is based on the consideration of the "convergence" of traditional and innovative finance, in order to promote synergy under the same regulatory system. Previously, HSBC and Hang Seng Investment Management had listed the tokenized unlisted class of Hang Seng Gold ETF on HashKey Exchange. Hong Kong is also advancing the trial operation of a gold central clearing system and plans to increase gold storage capacity by more than 10 times, while expanding the digital asset regulatory framework to stablecoins, tokenization, and broader Web3 infrastructure.