Hong Kong-listed AGTech Holdings said on Thursday that its unit inked a technical service agreement with Hong Kong Gold Exchange (HKGX) to develop an electronic trading, clearing and settlement platform.
AGTech‘s unit, TGX Technology, would design, develop and maintain an electronic trading, clearing and settlement platform for the gold exchange.
TGX and HKGX will co-own the platform.
The fintech firm said all existing bullion trading, clearing, settlement and related electronic activities of HKGX are expected to migrate to the new platform after completion.
AGTech is backed by Chinese tech giant Alibaba and also provides digital payment and banking services.
Hong Kong Gold Exchange was officially launched in 2025 and is city state’s sole spot gold and silver exchange.
Reuters
