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Jack Ma's licensed financial institution in Hong Kong, Yunfeng Financial, has launched a physical gold RWA product on its "Yunfeng Youyu" platform, open to professional investors. The product is backed by LBMA-certified, 99.99% pure physical gold as the underlying asset, with each token representing 1 gram of gold, stored in LBMA-certified vaults, and the related on-chain issuance and RWA infrastructure provided by AlphaToken. Previously, Yunfeng Financial announced its layout in Web3, RWA, and digital assets, and made a strategic investment in the RWA public chain Pharos.