HashKey Group announced that the Hong Kong arm of China’s GF Securities has issued a native security token, GF Token, on the HashKey Chain in three currencies – USD, HKD and offshore RMB. The digital securities accrue interest daily and are also redeemable daily. GF Securities Group is a major Chinese and Hong Kong securities broker listed on the Hong Kong and Shenzhen stock exchanges, with a market capitalization of over US$16 billion.
The nature of the securities was described as “backed by its credit support”. We believe this may be commercial paper, similar to the GF Securities (Hong Kong) issuance in early 2024. We’ve contacted HashKey to confirm, but didn’t receive a response in time for publication. It’s positioning the GF Token as similar to an interest bearing stablecoin, so it can be used to settle transactions involving other tokenized securities.
Both institutional investors and high net worth individuals can invest in the tokens, either via GF Securities or via the HashKey Exchange. Tokens can be held either via traditional securities accounts or self hosted wallets.
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