# Hong Kong Gold Exchange Subsidiary GoldZip Names Midas Labs as Strategic Web3 Partner

- Link: https://www.thailand-business-news.com/pr-news/hong-kong-gold-exchange-subsidiary-goldzip-names-midas-labs-as-strategic-web3-partner
- Published: 2026-05-19T08:15:00+07:00
- Author: PR Newswire

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](https://midaslabs.xyz) 

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**Read the original article :** [Hong Kong Gold Exchange Subsidiary GoldZip Names Midas Labs as Strategic Web3 Partner ](http://www.prnasia.com/story/archive/4959771_AE59771_0?rand=184833)