[Caixin: Yunfeng Financial's Gold Token Product Has No Secondary Market, Gold Stored in Hong Kong Vaults] Deep Tide TechFlow reports on May 8 that, according to Caixin, Yunfeng Financial's gold token product has no secondary market, and the gold is stored in Hong Kong vaults. The product will be available to users who have completed the Hong Kong Professional Investor (PI) certification. A relevant spokesperson stated that the physical gold token product is 'essentially not financial leverage but the digitization of assets.' In February this year, the People's Bank of China and eight other departments jointly issued the 'Notice on Further Preventing and Handling Risks Related to Virtual Currencies,' which, for the first time at the regulatory level, included RWA (Real-World Assets) within the regulatory framework. The overall approach is 'strict prohibition domestically, strict regulation abroad.' Previously, it was reported that Yunfeng Financial, indirectly held by Jack Ma, launched a physical gold token product under its Yunfeng Youyu platform. The product is anchored to physical gold as the underlying asset, with each unit corresponding to 1 gram of LBMA-certified gold with a purity of 99.99%.