✔️Hong Kong announced a project to issue a digital token backed by a standard 400-ounce gold bar, with the aim of using it to settle gold transactions between banks and financial institutions via blockchain technology
✔️The project is still in the planning stage, and no announcement has been made about which institution will issue the token, where the gold will be stored, or which blockchain network will be used 😃
✔️Hong Kong is working to expand its gold trading infrastructure through a centralized system for clearing over-the-counter gold transactions and by developing settlement for gold bank deposits backed by digital tokens.
✔️The Hong Kong project is primarily aimed at settling institutional transactions between banks and will not offer an investment product to individuals 🍫
🌑 $BONK $BOME
✅@mshabaka
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