Hong Kong’s first and only tokenised gold trading company is in talks with Beijing to obtain its endorsement for its products, which it believes can help China promote its economy to other Asian countries, the Post has learned.
Newly founded Esperanza Fintech, which plans to offer gold and security tokens for live entertainment shows and other projects such as shopping centres, hotels and residential projects, was upbeat on receiving Beijing’s blessing for its operations, a source familiar with the matter said on Thursday.
“The firm is in discussions with Beijing authorities. It has confidence in getting its endorsement,” the insider said.
Beijing recently released its 15th five-year plan for China’s development, vowing in the blueprint to “fully stimulate” the vitality of all types of business entities and encourage the joint development of various forms of ownership.
Spelling out Esperanza’s vision, CEO Dan Ronald Leung Wai-tsun, 37, said a gold-backed tokenised economy offered an alternative capital solution to get around Western fiscal dominance for driving regional economic development amid geopolitical issues.
Leung added his firm aspired to reconnect Asian economies and integrate with their respective central bank digital currencies to build autonomy against reliance on Western settlement systems and interest rate policies.
“Tokenised gold could be integrated with central bank-led digital renminbi in the future to contribute to the internationalisation of the yuan,” he said.
