Hong Kong Gold Exchange partners with Alibaba to develop digital blockchain

During a recent Spring Festival celebration, Hong Kong Gold Exchange announced an important strategic partnership with Alibaba. This move marks Alibaba’s entry into the fintech and digital asset management sectors at one of the world’s major financial centers.

Alibaba – Strategic Partner in Reshaping the Precious Metals Market

According to an official statement, Chairman Zhang Dexi revealed details about the collaboration with a subsidiary of Alibaba Group. This is not just a routine step but also reflects Alibaba’s long-term strategy to expand into financial technology and blockchain. The partnership combines two powerful forces: Hong Kong’s longstanding trading platform and Alibaba’s advanced technological capabilities.

Multidimensional Blockchain for Modern Trading

The project aims to develop a comprehensive blockchain system supporting various trading activities. Specifically, the platform will integrate spot trading, futures contracts, digital gold, B2C transactions, computing centers, and over-the-counter (OTC) trades. A centralized risk management system will be implemented to ensure transparency and security across all trading channels. This demonstrates Alibaba and the exchange’s goal of creating a complete ecosystem for precious metals commerce in the digital age.

Six-Month Roadmap and Payment System Integration

The project is expected to be completed within six months, after which it will connect to the Hong Kong Gold Central Payment System approved by the Hong Kong SAR government. This integration will create a robust payment channel, enhance trading efficiency, and reduce operational costs. These advancements reflect a joint effort to position Hong Kong as a leading digital asset management hub in the region, with Alibaba playing a key technological driving role.