Hong Kong’s GF Securities has become the first securities firm in Hong Kong to issue tokenized securities by fully integrating with HashKey Chain as its core on-chain issuance network. GF Securities has launched the first daily-interest-accruing, daily-redeemable tokenized securities, named “GF Token“, a building block to enable switching between different tokenized securities. This product also features its first-ever multi-channel distribution and token custody model for on-chain securities, now available to both High-Net-Worth-Individuals and institutional professional investors (PIs).
GF Securities launched three products in different currencies: USD, HKD, and offshore RMB. Among these, the USD version is benchmarked to the Secured Overnight Financing Rate (SOFR), designed to serve as a fair, transparent, and low-volatility cash management instrument. GF Token features high liquidity, accrues interest daily, and is fully recorded on-chain via HashKey Chain, enabling transparent and traceable transaction flows. This aims to make GF Token a building block for tokenized financial assets by providing a seamless on-chain net settlement mechanism that enables investors to switch between different tokenized securities.
GF Token features multi-channel distribution and token custody. Investors can subscribe through GF Securities or HashKey Exchange, and hold tokenized securities either via traditional securities accounts or directly on chain, allowing traditional investors to participate broadly across all aspects of tokenized securities in familiar settings. In addition to institutional professional investors, GF Token in this product launch is also made available to HNWI PIs, aiming to promote tokenized securities and related services to a broader audience.
With the daily interest accrual mechanism, the product meets both institutional investors’ needs for short-term idle capital management and Web3 users’ expectations for native on-chain assets. As a forward-looking, compliant financial product, the company believes GF Token demonstrates the potential of combining real-world assets with blockchain infrastructure, offering a replicable and scalable model for RWA scenarios.
“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,” said Zeng Chao, CEO of GF Securities. “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, have been committed to financial innovation, leveraging fintech to expand our footprint in digital finance. The collaboration with HashKey Group to launch GF Token is a key initiative in building Hong Kong’s tokenized securities ecosystem. We believe this step will further solidify GF Securities’ first-mover advantage in emerging digital finance.”
In January 2024, GF Securities became the first Chinese securities firm to issue tokenized securities under Hong Kong law, minting, issuing, and distributing financial assets on a public chain. This was also the first tokenized security issued following the SFC’s circulars regarding tokenized securities published in November 2023. Since then, the firm has introduced tokenized securities linked to equities and other financial assets. In January 2025, it partnered with Cinda Asset Management to launch the first tokenized note backed by a fund, continuously expanding the ecosystem of tokenized securities.
“Bringing real-world assets (RWAs) on-chain requires deep integration between financial institutions and blockchain technology providers,” HashKey Group Chairman Dr. Xiao Feng added. “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 on-chain finance.”
