HashKey Chain, in collaboration with GF Securities (Hong Kong), launches the first tokenized security, achieving end-to-end deployment and issuance
TechFlow Selected TechFlow Selected
HashKey Chain, in collaboration with GF Securities (Hong Kong), launches the first tokenized security, achieving end-to-end deployment and issuance
This issuance saw deep participation from multiple business units under HashKey Group, marking a significant step forward for Hong Kong's fintech ecosystem on the RWA path.
Navigating Web3 tides with focused insights
HashKey Chain announced that GF Securities (Hong Kong) has become the first brokerage in Hong Kong to issue tokenized securities, now fully integrated with HashKey Chain as its core on-chain issuance network. The firm has launched its first redeemable daily subscription tokenized security, "GF Token." This marks the first time a tokenized security in Hong Kong has achieved a "multi-distribution point, multi-custody approach" framework on-chain, aiming to establish GF Token as a benchmark product for on-chain tokenized assets and enable investors to seamlessly switch between different tokenized securities in real time. High-net-worth individual professional investors and institutional professional investors are both eligible to participate in subscription and trading. The issuance saw deep involvement from multiple business units within HashKey Group, signifying another critical step forward for Hong Kong's fintech ecosystem along the RWA (Real World Asset) pathway, laying a solid foundation for future collaboration and issuance of tokenized assets by financial institutions on-chain.
"GF Token" is a tokenized security issued by GF Securities (Hong Kong) backed by its own credit, offered simultaneously in three currencies: USD, HKD, and offshore RMB. The USD-denominated tokenized security’s yield is pegged to the Secured Overnight Financing Rate (SOFR), providing users with a fair, transparent, and low-volatility cash management tool in USD. GF Token offers high liquidity, features daily interest accrual, and leverages HashKey Chain for full on-chain recording, ensuring public transparency and traceability of asset transfers. The goal is to position GF Token as a benchmark product for on-chain tokenized assets, enabling investors to seamlessly transition between various tokenized securities via GF Token on-chain.
Compared to earlier tokenized securities issued by GF Securities (Hong Kong), this new GF Token introduces multi-point distribution and flexible custody options. Investors can subscribe through either GF Securities (Hong Kong) or HashKey Exchange, placing orders across multiple access points, while also having the option to hold the tokenized security under traditional securities custody arrangements—making it easier for conventional investors to broadly, continuously, and deeply engage in every aspect of trading and custody of tokenized securities. In addition to institutional professional investors, high-net-worth individual professional investors are now also eligible to subscribe and trade GF Token, significantly broadening the investor base for tokenized securities and related services.
The product employs a daily interest accrual mechanism, making it suitable not only for institutions managing short-term idle funds but also aligning with Web3 users’ habits regarding native on-chain assets. As a forward-looking compliant financial product, GF Token fully demonstrates the potential of integrating real-world assets with on-chain infrastructure, offering a replicable and scalable reference model for future RWA use cases on-chain.
Notably, while HashKey Chain serves as the core issuance network for this product, multiple entities under HashKey Group were deeply involved in the on-chain launch of GF Token: NexaToken by HashKey Cloud enabled the asset tokenization; HashKey Tokenisation participated in GF Securities (Hong Kong)'s tokenization program, providing advisory and feasibility recommendations on tokenization technology; and HashKey Exchange facilitated distribution to professional investors. This collaborative arrangement innovatively establishes an end-to-end pathway covering “asset issuance – token custody – distribution and circulation,” setting a precedent for future on-chain issuance and cooperation involving more financial institutions.
Mr. Zeng Chao, Chief Executive Officer of GF Securities (Hong Kong), said: “The launch of 'GF Token' represents a significant milestone in our ongoing development of a digital product suite and continues our exploration into enhancing our on-chain financial offerings. We value our partnership with HashKey Group and its HashKey Chain. Their comprehensive infrastructure and exchange capabilities allow GF assets to enter the public blockchain ecosystem in more diverse and convenient ways. Over the years, GF Securities (Hong Kong) has focused on business innovation, leveraging fintech to expand our footprint in digital finance and deliver diversified investment products and services to clients. Our collaboration with HashKey Group to launch 'GF Token' is one of our key initiatives to actively promote the construction of Hong Kong’s tokenized securities ecosystem. We believe this move will further strengthen GF Securities (Hong Kong)’s first-mover advantage in emerging digital finance.”
In January 2024, GF Securities (Hong Kong) successfully issued Hong Kong’s first tokenized security governed by Hong Kong law, becoming the first Chinese brokerage to mint, issue, and distribute self-created financial assets on a public blockchain. This was also the first such issuance following the Hong Kong Securities and Futures Commission’s release of regulatory guidance including the "Tokenization Circular" in November 2023. Since then, the company has successively launched tokenized securities linked to equities and other financial assets. In January 2025, it partnered with Cinda Asset Management to complete Hong Kong’s first fund-backed tokenized security distribution and trading, continuously enriching the underlying ecosystem of tokenized securities.
Dr. Xiao Feng, Chairman of HashKey Group, stated: “The on-chain transformation of real-world assets (RWA) requires genuine two-way integration between financial institutions and blockchain platforms, and the launch of 'GF Token' embodies this vision. As the preferred chain for financial assets, HashKey Chain will continue to provide trusted underlying support and infrastructure for compliant assets, helping position Hong Kong as the world’s most dynamic on-chain financial hub.”
Kay, Head of HashKey Chain, said: “'GF Token' is a pivotal practice in the journey of bringing traditional financial assets on-chain. As a blockchain infrastructure designed specifically for compliant assets, HashKey Chain is proud to offer GF Securities (Hong Kong) a stable and composable technological foundation, advancing RWA products from concept to reality. We believe that as more leading financial institutions join, on-chain finance will gradually form a complete ecological loop, reshaping how assets are issued, circulated, and governed.”
Looking ahead, HashKey Chain will continue expanding collaborations with traditional financial institutions including brokerages and banks, further refining mechanisms for compliant asset issuance and circulation on-chain. By combining high-performance blockchain infrastructure with trusted assets, HashKey Chain aims to help Hong Kong build a real-world functional core model for Onchain Finance.
——End——
About HashKey Chain
HashKey Chain is the preferred public blockchain for financial institutions and RWA asset tokenization, dedicated to driving the compliance and scale-up of Onchain Finance. As a compliance-friendly blockchain infrastructure, HashKey Chain provides institutions with a secure and transparent on-chain environment.
Leveraging a secure and trustworthy technical architecture, HashKey Chain inherits Ethereum’s decentralized security while optimizing performance for higher transaction efficiency, ensuring stability and traceability of on-chain assets. Additionally, HashKey Chain adopts a high-performance, low-cost solution offering minimal gas fees and high throughput, enabling efficient circulation of financial assets such as money market funds, bonds, funds, and stablecoins, reducing operational costs for institutions on blockchain.
HashKey Chain is collaborating deeply with globally leading financial institutions and compliant Web3 projects, delivering optimal solutions for institutional DeFi, RWA tokenization, stablecoin settlements, and other application scenarios, accelerating the digital and intelligent transformation of the financial system.
HashKey Chain official website: https://hsk.xyz/
Media Contact: hsk@hashkey.com
About GF Securities (Hong Kong)
GF Securities (Hong Kong), comprising GF Holdings (Hong Kong) Limited and its subsidiaries, serves as the core platform for GF Securities Co., Ltd. (Stock codes: 000776.SZ, 1776.HK) in executing its international strategy. GF Securities (Hong Kong) is committed to serving mainland clients’ overseas investment needs and facilitating international investors’ access to China, acting as a bridge connecting mainland and global capital markets.
Established in 2006, GF Securities (Hong Kong) provides comprehensive financial services—including global markets, wealth management and brokerage, and capital markets—to global and local enterprises, institutions, retail, and high-net-worth clients. It holds Type 1, 4, 6, and 9 licenses from the Hong Kong Securities and Futures Commission.
GF Securities (Hong Kong) official website: www.gfgroup.com.hk
Media Contact: media@gfgroup.com.hk; oliviahu@gfgroup.com.hk
Disclaimer
HashKey Chain acts solely as a technology infrastructure provider, supporting asset issuers in deploying and issuing tokenized products on-chain. The authenticity, origin, custody, security, pricing mechanism, and compliance of the tokenized products themselves are the responsibility of the issuers and their third-party service providers, and are not associated with HashKey Chain. The information contained herein is for general reference only and does not constitute an offer, solicitation, or recommendation regarding any virtual asset, security, or financial instrument. Forward-looking statements included in this material, including but not limited to ecosystem development plans and expected use cases, may be subject to change due to legal, technological, regulatory, or other factors, and actual outcomes may differ materially from expectations. HashKey Chain makes no express or implied representations or warranties regarding the accuracy, completeness, or reliability of the information presented. This material is intended solely for recipients in jurisdictions where such information is legally permitted and should not be construed as an offer or solicitation in any jurisdiction where prohibited by law or regulation.
GF Securities (Hong Kong) includes GF Holdings (Hong Kong) Limited and/or its Hong Kong-incorporated subsidiaries, including GF Securities (Hong Kong) Brokerage Limited — a licensed corporation engaging in regulated activities under the Securities and Futures Ordinance (Cap. 571 of Hong Kong Laws), specifically Type 1 (Securities Trading) and Type 4 (Advising on Securities). The tokenized securities or financial instruments mentioned in this document may not be offered or sold in certain jurisdictions.
The case studies and data included in this document are for illustrative purposes only. While we have exercised due care in preparing this material, GF Securities (Hong Kong) makes no express or implied representations or warranties as to the public availability, completeness, or correctness of the information or data contained herein, and such information should not be relied upon. The information provided is for general reference only and does not constitute an offer, solicitation, or recommendation regarding any tokenized securities or financial instruments, nor does it form the basis of any contract or commitment. Forward-looking statements included herein, including but not limited to ecosystem development plans and anticipated use cases, may vary due to legal, technological, regulatory, or other factors, and actual results may differ significantly from projections.
Investments involve risk. Past performance is not indicative of future results. Investors may suffer losses. Investors should not rely solely on this overview when investing in the tokenized securities or financial instruments described herein and should read the offering documents for further details, including risk factors, especially those related to investing in emerging markets. Readers are urged to exercise independent judgment in making investment decisions and to seek professional advice where necessary to ensure suitability with their financial circumstances. GF Securities (Hong Kong), GF Securities Co., Ltd., and its subsidiaries assume no liability for any loss arising from reliance on the content of this document. This document is issued by GF Securities (Hong Kong) and has not been reviewed by the Securities and Futures Commission.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
@HashKeyExchange
