LME Explores Digital Tokens for Hong Kong Warehouses
The London Metal Exchange is planning to turn metal in Hong Kong warehouses into digital assets for financing. The initiative aligns with the territory's five-year economic development plan.
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The London Metal Exchange aims to turn off-warrant metal inventories into digital assets for business financing, three people with knowledge of the matter said in late October. The initiative links the 149-year-old exchange to China's strategy to expand Hong Kong as a commodities hub. The move gives the exchange a new revenue stream while attracting investors, traders, and financiers.
