Summary
- GF Securities (Hong Kong) announced the issuance of an interest-bearing tokenized security based on offshore Renminbi.
- The product is designed to provide interest on short-term idle funds and enables swaps with other tokenized assets.
- These tokenized securities are available only to institutional and professional investors and will be traded on the HashKey Exchange, a virtual asset exchange.
Chinese brokerage GF Securities has issued an interest-bearing tokenized security based on offshore Renminbi (RMB) overseas.
According to Bloomberg on the 26th (local time), GF Securities (Hong Kong) launched daily interest-bearing and daily redemption tokenized securities based on offshore RMB, Hong Kong dollar, and US dollar on the 10th.
The product is designed to provide interest on short-term idle funds and enable swaps with other tokenized assets.
A representative from GF Securities (Hong Kong) said, "The US dollar token pays interest based on the Secured Overnight Financing Rate (SOFR)," and added, "The interest rates for the Hong Kong dollar and Renminbi-based tokens have not yet been determined."
They further stated, "These tokenized securities are provided only to institutional and professional investors, and the tokens will be issued on-chain and traded on the HashKey Exchange, a virtual asset exchange."
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
