Yunfeng Financial Group Ltd., a Hong Kong-based insurer with ties to Alibaba founder Jack Ma, has launched a gold-backed digital token aimed at professional investors. Each token represents one gram of 99.99% pure gold securely stored in vaults, allowing investors to trade gold as a liquid asset. This initiative is part of Yunfeng's broader strategy to transition from a traditional insurance model to a technology-oriented financial services firm, leveraging its substantial capital reserves. The company has also acquired a significant ether cryptocurrency reserve to facilitate transactions related to the token. This move comes as Hong Kong positions itself as a leading center for digital assets, with plans to increase gold-storage capacity significantly by 2028. Despite the potential, Yunfeng faces competition from major financial institutions like HSBC, which has already launched its own gold token. The tokenization of commodities is gaining traction globally, with the value of tokenized commodities reaching $5.5 billion in early 2026, indicating a robust market for digital financial tools.