Hong Kong launches new micro-gold trading platform GoldZip


By Enoch Yu
South China Morning Post, Hong Kong
Friday, February 8, 2019

Hong Kong's local gold exchange will introduce in March a new trading platform called GoldZip which will allow investors to trade in units as small as a single gram for HK$300 (US$38), in an effort to raise the appeal of the yellow metal among younger retail investors.

Chinese Gold and Silver Exchange Society president Haywood Cheung Tak-hay told the Post that GoldZip will adopt blockchain technology to enable trading in amounts smaller than 1 tael, the current minimum trade on the exchange.

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The platform will accept Hong Kong dollars, US dollars and yuan. ...

The platform will enable investors to place their trades online or over the phone through a gold broker who is a member of the Chinese Gold and Silver Exchange Society. Each trade will entail a commission of 0.01 percent of the value of the order.

Investors can store their physical gold at the exchange or take physical possession for off-site safekeeping. ...

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