Hong Kong Gold Exchange taps Chainlink to move gold-backed XGZ across blockchains

Hong Kong Gold Exchange (HKGX) is working with GoldZip and Midas Labs to add Chainlink’s cross-chain technology to XGZ, its gold-backed token. The planned integration would let XGZ move beyond Ethereum to other supported networks. It could widen the token’s reach, but does not change its gold backing or redemption terms.

Key takeaways

  • GoldZip and Midas Labs plan to integrate Chainlink’s Cross-Chain Interoperability Protocol (CCIP) for XGZ transfers.
  • XGZ is currently an Ethereum token representing one gram of 99.99% fine gold.
  • No launch date or additional supported blockchains were specified in the announcement.

What the integration is intended to do

Chainlink announced on 27 October 2026 that GoldZip, the company behind XGZ, is working with blockchain developer Midas Labs to integrate CCIP. The protocol is designed to transfer tokens and messages between separate blockchain networks. If the integration is completed, XGZ holders could transfer the token on networks beyond its current Ethereum deployment.

For traders, the practical distinction is portability, not a change in the asset itself: access to more networks may offer additional transfer options, but does not by itself establish liquidity, guarantee a market price or alter redemption eligibility. The announcement did not identify a deployment timetable or name the networks that may be added.

How XGZ is backed and redeemed

Each XGZ represents a claim linked to one gram of 99.99% fine gold held in recognised vaults. GoldZip says approved bars are verified before being deposited in depositories recognised by HKGX. The token can be divided into units as small as 0.00000001 XGZ, and transfers incur a 0.01% fee paid by the sender.

Physical redemption is available to eligible holders from 1,000 XGZ, equivalent to one kilogram of gold, subject to eligibility and anti-money-laundering requirements. GoldZip’s website lists about 39,000 XGZ in circulation, corresponding to 39 kilograms of gold, and publishes bar-level reserve details. Independent audit reports are listed as forthcoming, so the published reserve information should be distinguished from completed independent audits.

Why HKGX and GoldZip are expanding

HKGX, which describes itself as the world’s fourth-largest gold trading venue by volume, has nearly 150 institutional members. GoldZip’s partnership with Midas Labs supports HKGX’s broader effort to develop blockchain infrastructure for digital gold trading and institutional participation. The exchange has also been exploring tokenised assets as Hong Kong develops plans for regulated digital-asset markets.

GoldZip was named among the integration partners for Chainlink CCIP 2.0, an upgrade presented as infrastructure for institutional digital assets and cross-chain transactions. The XGZ initiative therefore connects a physical-gold product with a wider push to make tokenised assets transferable across blockchain networks, while leaving key questions—including rollout timing and independent reserve audits—open.