Yunfeng Financial Group has launched a new digital token backed by physical gold in Hong Kong, marking another step in the region’s push toward tokenized financial assets.

The initiative, introduced through the company’s Yunfeng Youyu platform, uses blockchain technology to convert physical gold bullion into digital financial instruments aimed at professional investors, News.Az reports, citing Harian Basis.

Each token represents one gram of 99.99% pure gold stored in secure vaults in Hong Kong, according to the company. The product is currently limited to professional investors, and secondary-market trading has not yet been authorized.

The project is supported by AlphaToken, a…