GF Securities, HashKey Debut Yield-Generating Tokenized Securities in Hong Kong

Chinese brokerage GF Securities has teamed up with HashKey to roll out tokenized securities denominated in US dollars, Hong Kong dollars, and offshore yuan, marking a fresh milestone in Hong Kong’s ambition to cement its status as a global crypto hub.

Key Takeaways:

• GF Securities and HashKey have launched GF Token, offering daily-yielding tokenized securities.
• The tokens aim to strengthen Hong Kong’s push for real-world asset tokenization.
• Other Chinese brokers are racing to enter Hong Kong’s crypto market.

HashKey announced Friday that the new daily-yielding, daily-redeemable securities, dubbed “GF Token,” are targeted at high-net-worth individuals and institutional investors.

The USD version of the tokens will track the Secured Overnight Financing Rate (SOFR), a key benchmark reflecting overnight borrowing costs backed by U.S. Treasury securities.

Issued on HashKey Chain, the tokens are expected to be distributed soon.

“This milestone signifies a major step forward in the city’s real-world asset tokenization journey and lays the groundwork for broader on-chain collaboration within Hong Kong’s securities industry,” HashKey said in its statement.

Zeng Chao, CEO of GF Securities (Hong Kong), called the partnership with HashKey a strategic move to strengthen the firm’s lead in digital finance.

“This step will further solidify GF Securities (Hong Kong)’s first-mover advantage in emerging digital finance,” he said.

The launch comes a day after the Hong Kong government unveiled its latest policy statement, outlining plans to accelerate real-world asset tokenization and expand the city’s crypto licensing regime.

HashKey Group × GF Securities (Hong Kong)
A landmark partnership shaping the future of institutional-grade digital finance in .

We're proud to support the launch of “GF Token” — Hong Kong's first fully on-chain tokenized security with multi-currency support and daily… pic.twitter.com/vbrsYQjkLq

Paul Chan, Hong Kong’s financial secretary, said the updated framework, dubbed Policy Statement 2.0, aims to broaden the application of tokenization and diversify digital asset use cases.

Meanwhile, other major Chinese brokers are also moving fast.

Earlier this week, Guotai Junan International received approval to offer crypto trading in Hong Kong, while China Merchants Securities and Huatai International are reportedly seeking license upgrades to enter the digital asset market.

Bergen County, New Jersey’s largest county by population, has struck a five-year deal with Balcony to tokenize 370,000 property deeds on the Avalanche blockchain, covering an estimated $240 billion in real estate.

This marks the biggest deed tokenization effort in U.S. history and is backed by Avalanche-focused venture fund Blizzard.

Home to nearly one million residents and generating $500 million yearly in property taxes, Bergen County aims to modernize land record management and speed up deed processing through blockchain integration.

A report by the Global Financial Markets Association (GFMA) and Boston Consulting Group estimates the global value of tokenized illiquid assets will reach $16 trillion by 2030.

Even more conservative estimates from Citigroup suggest that $4 trillion to $5 trillion worth of tokenized digital securities could be minted by 2030.

Recognizing this potential, major companies are making significant moves in the tokenization space.

Goldman Sachs, for instance, plans to launch three new tokenization products later this year, driven by growing client interest.

The post GF Securities, HashKey Debut Yield-Generating Tokenized Securities in Hong Kong appeared first on Cryptonews.