Yunfeng Youyu, a subsidiary of Yunfeng Financial indirectly held by Jack Ma, launches a physical gold-backed token product.

Jinse Finance reported that on May 7, Yunfeng Youyu, under Yunfeng Financial, in which Jack Ma indirectly holds shares, launched a physical gold-backed token product. Relying on the compliant operational framework of a licensed financial institution, the product aims to provide qualified professional investors (PI) with a more convenient and transparent digital asset allocation service linked to physical gold. Each token is anchored to physical gold, with each unit representing 1 gram of LBMA-certified 99.99% pure physical gold.