July 23 (Reuters) – 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.
Here are the details:
• 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.
(Reporting by Nichiket Sunil in Bengaluru; Editing by Vijay Kishore)
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