HONG KONG and SINGAPORE, May 19, 2026 /PRNewswire/ — Digital gold "GoldZip", a subsidiary of the Hong Kong Gold Exchange (HKGX) and holding a full regulatory compliance license in Singapore, has officially partnered with comprehensive Web3 ecosystem and application developer Midas Labs. Midas Labs is now the designated Web3 development company to build a new institutional-grade digital gold ecosystem.
This partnership accelerates HKGX’s digital transformation, expanding services for nearly 150 institutional members. Midas Labs will build a comprehensive commodity trading ecosystem by developing regulatory-compliant digital gold circulation technology and underlying architecture. This seamlessly connects traditional physical gold reserves with global digital asset liquidity. GoldZip ($XGZ), fully supported by HKGX, are physically backed by 999.9 fine gold in recognized vaults. This empowers physical gold to become a globally programmable digital asset, greatly improving asset circulation and management efficiency.
Dr. Haywood Cheung, Chairman of the Hong Kong Gold Exchange, emphasized the strategic significance of this transition: "We need to explore blockchain trading and digitize transactions to actively embrace the new generation of Web3.0 trading trends and the future trend of digitalization."
Integrating Midas Labs’ expertise in Real World Asset (RWA) tokenization will lower investor thresholds and guide global capital into Asia’s physical gold market. In the next one to two years, Midas Labs will aggressively deploy robust digital gold trading and technology infrastructure to accelerate the digital upgrade of the traditional gold industry and ecosystem institutions.
About HKGX: The Hong Kong Gold Exchange is the only spot gold and silver exchange recognized by the Hong Kong government, comprising nearly 150 institutional members and over 30 refineries. It is committed to providing gold trading, warehousing, and physical delivery services that meet international standards, serving as Asia’s oldest and most reputable precious metals hub.
About Midas Labs: Midas Labs builds institutional-grade Web3 infrastructure to seamlessly connect traditional gold trading with the digital network. By providing underlying technology, it establishes a digital standard for real-world gold. Official Website: https://midaslabs.xyz