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HashKey Chain has announced that GF Securities (Hong Kong) is the first securities firm in the city to issue tokenised securities through full integration with HashKey Chain as its core on-chain issuance network. The launch introduces "GF Token", a daily-interest-accruing, daily-redeemable tokenised security, aimed at enabling seamless switching between different tokenised securities. The product features a multi-channel distribution and token custody model, and is now available to both high-net-worth individuals and institutional professional investors.
"GF Token" is a class of tokenised securities issued by GF Securities (Hong Kong), backed by the firm’s credit support. Three products have been launched in different currencies: USD, HKD, and offshore RMB. The USD version is benchmarked to the Secured Overnight Financing Rate (SOFR), and is designed as a fair, transparent, low-volatility cash management instrument. The tokens accrue interest daily, offer high liquidity, and are fully recorded on-chain via HashKey Chain, providing transparency and traceability for transaction flows.
Compared to previous tokenised securities from GF Securities (Hong Kong), "GF Token" introduces multi-channel distribution and token custody. Investors can subscribe through GF Securities (Hong Kong) or HashKey Exchange, and may hold tokenised securities either via traditional securities accounts or directly on-chain. This approach allows traditional investors to participate in all aspects of tokenised securities within familiar settings. In this launch, "GF Token" is also available to high-net-worth individual professional investors, aiming to broaden the reach of tokenised securities and related services.
With its daily interest accrual mechanism, "GF Token" is intended to meet both institutional investors’ needs for short-term idle capital management and Web3 users’ expectations for native on-chain assets. The product is positioned as a forward-looking, compliant financial instrument, demonstrating the potential for combining real-world assets with blockchain infrastructure.
The on-chain launch of "GF Token" involved multiple business units under HashKey Group. NexaToken, a service by HashKey Cloud, enabled the asset’s tokenisation, while HashKey Tokenisation provided technical consultation and feasibility assessments. HashKey Exchange facilitated professional investor distribution through its network. This arrangement is described as a pioneering end-to-end model, encompassing asset issuance, token custody, and multi-point distribution.
Mr. Zeng Chao, CEO of GF Securities (Hong Kong)
Mr. Zeng Chao, CEO of GF Securities (Hong Kong), commented:
“The launching of GF Token is a major milestone for GF Securities (Hong Kong)’s digital product strategy, and an important extension of our chain-based product innovation. We value our partnership with HashKey Group and HashKey Chain. Their comprehensive infrastructure and exchange capabilities enable GF’s products to enter the public blockchain world more efficiently. Over the years, we, at GF Securities (Hong Kong), have been committed to financial innovation, leveraging fintech to expand our footprints in digital finance. The collaboration with HashKey Group to launch GF Token is a key initiative in building Hong Kong’s tokenised securities ecosystem. We believe this step will further solidify GF Securities (Hong Kong)’s first-mover advantage in emerging digital finance.”
In January 2024, GF Securities (Hong Kong) became the first Chinese securities firm to issue tokenised securities under Hong Kong law, following the SFC’s circulars on tokenised securities published in November 2023. Since then, the firm has introduced tokenised securities linked to equities and other financial assets. In January 2025, it partnered with Cinda Asset Management to launch the first tokenised note backed by a fund.
Dr. Xiao Feng, Chairman of HashKey Group
Dr. Xiao Feng, Chairman of HashKey Group, said:
“Bringing real-world assets (RWAs) on-chain requires deep integration between financial institutions and blockchain technology providers. The launch of ‘GF Token’ perfectly reflects this synergy. As the preferred chain for financial assets, HashKey Chain will continue to offer trustworthy infrastructure for compliant assets and help position Hong Kong as the world’s most vibrant hub for onchain finance.”
Kay, Head of HashKey Chain
Kay, Head of HashKey Chain, added:
“‘GF Token’ represents a pivotal practice in the on-chain transformation of traditional financial assets. As a blockchain infrastructure purpose-built for compliant assets, HashKey Chain is honoured to provide GF Securities (Hong Kong) with a stable and composable technical foundation. We believe that with more leading financial institutions joining, onchain finance will gradually form a closed-loop ecosystem, redefining how assets are issued, traded, and governed.”
HashKey Chain states it will continue to deepen collaborations with traditional financial institutions, expanding mechanisms for compliant on-chain asset issuance and circulation.
HashKey Chain is a blockchain for financial institutions and RWA tokenisation, dedicated to promoting compliant and scalable onchain finance. The chain inherits Ethereum’s decentralised security and enhances transaction efficiency through high-performance optimisation, aiming to ensure on-chain asset stability and traceability.
GF Securities (Hong Kong), comprising GF Holdings (Hong Kong) and its subsidiaries, is the core platform of GF Securities Co., Ltd. to implement its globalisation strategy. Established in 2006, GF Securities (Hong Kong) provides financial services across global markets, wealth management, brokerage, and capital markets to a range of clients. The firm holds HK SFC licences Type 1, 4, 6, and 9.
