$LINK $XAUT
CHAINLINK INTEGRATES ITS TECHNOLOGY WITH HKGX TO FACILITATE TOKENIZED GOLD TRADING.
Chainlink announced an integration with the Hong Kong Gold Exchange (HKGX) to facilitate the use and transfer of tokenized gold across different blockchain networks.
The project involves GoldZip (XGZ), a token backed by physical gold. Each unit represents one gram of gold with a purity of 99.99%, stored in accredited vaults.
Chainlink's technology will allow these tokens to be transferred between different networks using its CCIP protocol. This aims to expand the ways XGZ can be used, as it currently operates on Ethereum.
In addition, holders of these tokens will be able to redeem them for physical gold, provided they meet the conditions set by the project and the required minimum amounts.
The implementation also involves Midas Labs, which is contributing to the development of this integration.
The agreement connects two sectors that until recently operated mainly separately: the traditional gold market and blockchain infrastructure.
The initiative aims to facilitate access to and circulation of assets backed by precious metals in the digital environment.
TRADE HERE 👇
#LINK #crypto #TradingCommunity #TrendingTopic #news
CHAINLINK INTEGRATES ITS TECHNOLOGY WITH HKGX TO FACILITATE TOKENIZED GOLD TRADING.
Chainlink announced an integration with the Hong Kong Gold Exchange (HKGX) to facilitate the use and transfer of tokenized gold across different blockchain networks.
The project involves GoldZip (XGZ), a token backed by physical gold. Each unit represents one gram of gold with a purity of 99.99%, stored in accredited vaults.
Chainlink's technology will allow these tokens to be transferred between different networks using its CCIP protocol. This aims to expand the ways XGZ can be used, as it currently operates on Ethereum.
In addition, holders of these tokens will be able to redeem them for physical gold, provided they meet the conditions set by the project and the required minimum amounts.
The implementation also involves Midas Labs, which is contributing to the development of this integration.
The agreement connects two sectors that until recently operated mainly separately: the traditional gold market and blockchain infrastructure.
The initiative aims to facilitate access to and circulation of assets backed by precious metals in the digital environment.
TRADE HERE 👇
#LINK #crypto #TradingCommunity #TrendingTopic #news
