GoldZip is working with Midas Labs to bring gold-backed XGZ to multiple networks through CCIP. The company has not announced the supported chains or when users can start transfers.
GoldZip, part of the Hong Kong Gold Exchange group, says it is integrating Chainlink CCIP to move XGZ between blockchains. Its official October 27 announcement names Midas Labs as its technology partner. The company has not announced the supported networks, a date for users to start transferring tokens, or fees for the new service.
How far has the CCIP integration progressed?
Chainlink also announced the XGZ integration on October 27. GoldZip wants holders to reach more networks and trade or use the token in more places. Neither company has reported completed cross-chain transaction counts or volumes.
In a partnership announcement dated June on its website, GoldZip had already named Midas Labs to develop infrastructure for transferring and trading its digital gold. Chainlink announced CCIP 2.0 on September 28 and listed GoldZip among its partners then.
“CCIP enables $XGZ to move securely across multiple blockchains.”
GoldZip’s October 27 announcement of its CCIP integration with Midas Labs.
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Transfer security and vault audits answer different questions
According to Chainlink’s CCIP 2.0 announcement, the default verification layer has 16 independent node operators. A token issuer can add its own verifier or third-party verifiers. The issuer can require those additional verifiers to approve a transfer. Their services may carry extra fees.
By default, CCIP waits for a transaction to become final on the source blockchain. Issuers can change that waiting rule to permit faster transfers, accepting the risk that the source chain could subsequently change. Chainlink’s compliance tools support identity, sanctions, permitted-address and transaction-limit checks. GoldZip has not said which options it will use.
CCIP’s transfer checks do not, by themselves, verify how much gold is inside a vault. To assess XGZ’s physical backing, holders need the issuer’s reserve and custody records. GoldZip’s new announcement does not say it will also use Chainlink Proof of Reserve.
Chainlink’s September 28, 2026 introduction to CCIP 2.0 gives an overview of security, compliance and speed features.
One XGZ represents one gram of gold
According to GoldZip’s product FAQ, each XGZ is backed by one gram of 99.99% fine gold held in a vault. The token currently uses Ethereum’s ERC-20 standard. GoldZip says the corresponding tokens are burned when physical gold is redeemed. A small token balance does not entitle its holder to an equally small piece of bullion. PAXG and XAUT redemption terms also distinguish token balances from bar collection, with different minimums for each product.
| Item | Published term |
|---|---|
| Gold backing | One gram of 99.99% fine gold per XGZ. |
| Normal physical redemption | At least 1,000 XGZ for a one-kilogram bar. |
| Transfers between addresses | 0.01% of the XGZ amount transferred, paid by the sender. |
| Normal redemption fee | 0.25% of the gold value determined by the operator, payable in dollars. |
| Storage fee | Waived until further notice. |
The published rules require identity and anti-money laundering checks, an appointment and supporting documents for physical collection. They list Horsemart Service Limited in Hong Kong as the collection site, open from 9 a.m. to 5 p.m. on weekdays excluding public holidays. Normal redemption also involves a waiver and acceptance of the latest terms. The date field at the top of the page is blank, so its last revision date cannot be verified.
The company’s transparency page displays 39,000 XGZ and 39 kilograms of gold. Its bar-allocation table lists 39 bars and 39,000 allocated XGZ. The table uses a snapshot of Ethereum block 26,123,224 dated October 5, 2026. Subsequent transfers are outside that dated record.
GoldZip says in its FAQ that it publishes regular independent audits or attestations. On October 27, however, its transparency page marked the reports “coming soon” and disabled the download button. The bar list and supply figures are company disclosures, rather than an independent inspection of the vaults or measurement of current on-chain balances.
An optional exit follows the issuer change
An October 15 notice says GoldZip Company Limited in the British Virgin Islands will replace Singapore’s GoldZip Pte. Limited as issuer within the same HKGX group. GoldZip says the new issuer will assume its obligations, including existing debts, subject to lawful implementation. The Ethereum contract stays unchanged, with no token swap required.
Holders have until November 5 at 11:59 p.m. UTC to object or request the special exit. They may return their entire Ethereum XGZ balance from a verified wallet they control for USDT; partial exits are excluded, but the normal 1,000-XGZ minimum is waived. Crypto exchange-controlled wallets are ineligible. A pending exchange withdrawal does not itself invalidate a request made on time, although verification and delivery remain necessary.
The issuer will calculate payment from the weighted average traded XGZ price on the deadline’s Hong Kong calendar date. It can select trading data and exclude data it considers unreliable or manipulated. If there is not enough reliable data, it must set a fair price reasonably and in good faith; the detailed method is not public. USDT goes to the same verified wallet on Ethereum. The company will waive the normal 0.25% redemption fee and refund or credit automatic XGZ deductions on transfers it instructs. Holders pay network fees, but all transaction fees for the instructed wallet-verification transfer will be reimbursed.
Payment timing is conditional: The company says it will pay within 14 business days after the deadline. It counts days when banks are open in Hong Kong, Singapore and the British Virgin Islands, excluding weekends and public holidays. Incomplete verification, delivery or legal restrictions can cause delays without forfeiting a timely claim. The exit is optional. Returning the tokens alone does not end the issuer’s payment obligation, and the special exit does not require holders to waive accrued rights.
