Chainlink partners with HKGX for gold-backed token, LINK tests $9-$11 support

Chainlink is expanding its real-world asset (RWA) infrastructure, introducing new uses for institutions through partnerships involving tokenized gold and compliance tools. The Hong Kong Gold Exchange, recognized as the fourth-largest gold trading venue worldwide by volume, will bring its gold-backed XGZ token to Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The integration is in collaboration with blockchain service provider GoldZip and technology firm Midas Labs, with the intention of enabling secure transfers of the XGZ token between supported blockchain networks. XGZ, a token issued with backing from the Hong Kong Gold Exchange (HKGX), represents ownership in physical gold stored by the exchange.

Source: CoinTurk News