HSK Chain and Morpho Announce Strategic Partnership to Jointly Build Asia's Leading On-Chain Lending Ecosystem

On July 28, 2026, HSK Chain, the institutional-grade public chain under HashKey (Stock Code: 3887.HK), announced a strategic partnership with Morpho, a global leading decentralized non-custodial lending protocol and open credit network. Relying on their core advantages in on-chain lending infrastructure and on-chain financial innovation respectively, both parties will jointly develop on-chain lending products for institutional and retail users, and jointly explore the scaled implementation of global on-chain financial services.

According to the cooperation agreement, Morpho will complete a full-chain deployment on HSK Chain and become the official partner for HSK Chain's on-chain lending business. The cooperation between the two parties covers multiple business segments of HashKey Group and extends to the integration scenarios of HashKey's upcoming crypto wallet and super app.

As the institutional-grade asset management platform under HashKey Group, HashKey Capital has also made a strategic investment in Morpho. The Capital team believes that the current period is a critical juncture for the transformation of DeFi lending towards institutional-grade infrastructure. Through an innovative architecture that separates the underlying lending protocol from risk management, Morpho has achieved maximization of capital efficiency while ensuring high security. With the deep integration of top-tier institutions such as Coinbase and Apollo, and the launch of the fixed-rate product Morpho Midnight, Morpho has evolved from an on-chain lending protocol into a core settlement layer for the fusion of traditional finance and on-chain credit, possessing the key capability to facilitate the migration of the traditional private credit market to on-chain.

Institutional-Grade Lending Level: Implementation of On-Chain Lending Services

HSK Chain will join hands with Morpho to layout the CeDeFi track. Taking on-chain lending as the entry point, they will jointly explore and commit to breaking down liquidity barriers between CeFi and DeFi, promoting the evolution of the crypto financial ecosystem towards a more open and efficient direction.

On-Chain Staking Services: Creating Institutional-Grade Yield Products

HSK Chain will cooperate with Morpho to develop on-chain yield products, focusing on a robust risk management model, and conduct lending business based on BTC and RWA (Real World Assets) as underlying collateral. In the future, both parties will also explore the integration of Morpho v2 fixed-rate lending products, allowing HashKey staking service users to conveniently access on-chain credit funds.

Note: Staking refers to node validation/infrastructure services and does not constitute investment or financial products.

Tokenization Services: Promoting RWA Assets On-Chain

HSK Chain will join hands with Morpho to introduce more institutional-grade assets into the Morpho protocol, making them eligible collateral, further enriching the asset categories available in the on-chain lending ecosystem. Both parties will combine market demand signals from HashKey's institutional client group to jointly screen and prioritize the introduction of the first batch of RWA assets.

Compliance First: Co-creating New Standards for On-Chain Finance

HashKey's affiliated companies hold multiple digital asset service licenses in Asia and are one of the few institutions in the Asia-Pacific region capable of providing institutional-grade digital asset services under a complete compliance framework. Morpho is a global leading decentralized lending protocol; the protocol has cumulatively processed billions of dollars worth of on-chain lending transactions and is known for its highly modular risk management architecture and transparent smart contract logic. The cooperation between the two parties integrates compliant financial infrastructure with top-tier DeFi protocol capabilities, providing institutional and retail users with a secure, transparent, and auditable on-chain lending experience.

"On-chain lending is key infrastructure connecting traditional finance and the Web3 ecosystem. The cooperation with Morpho enables us to provide true on-chain lending services to institutional and retail users. HashKey has always been committed to promoting the popularization of on-chain finance under the premise of compliance; this cooperation is an important step we have taken in this direction."

— Serena Wang, Head of HSK Eco Labs

"HashKey possesses scarce compliance qualifications and rich institutional client resources in Asia, making it an excellent partner for Morpho to expand into Asia and build a global open lending network. We will deploy the decentralized lending underlying protocol, which has been globally verified and possesses high security and risk control capabilities, on HSK Chain. Relying on a layered architecture to balance protocol openness, we will jointly explore local compliance requirements, join hands to create secure and efficient on-chain lending services in Hong Kong and even across Asia, deeply cultivate businesses such as RWA and compliant CeDeFi together, and explore more development opportunities in on-chain finance."

— Shanshan Shui, Head of Morpho Asia

About HSK Chain

HSK Chain is an institutional-grade blockchain under HashKey (Stock Code: 3887.HK), committed to reshaping the global financial market on-chain. Featuring security and innovation, HSK Chain provides infrastructure for next-generation on-chain finance, enabling stablecoins, RWA (Real World Assets), and institutional-grade DeFi to collaborate efficiently and operate seamlessly within the same system.

About Morpho

Morpho is an open lending network with total deposits exceeding $11 billion, connecting lenders and borrowers globally with optimal lending opportunities. Its modular, open infrastructure enables fintech companies, wallets, exchanges, and institutions to embed configurable credit products directly into their own platforms while fully controlling the user experience. Leading institutions such as Coinbase, Robinhood, Bitwise Asset Management, and Société Générale have deployed secure, scalable on-chain credit products based on Morpho. For more information, please visit Morpho.org.

Disclaimer

HSK Chain is a blockchain infrastructure network. This announcement is solely for introducing the cooperation between HSK Chain and Morpho and the development direction of the related ecosystem, and does not constitute any investment advice, investment offer, solicitation, recommendation, or guarantee. HSK Chain makes no express or implied warranties regarding the performance, security, availability, or compliance of any third-party protocols, products, or services. Before users participate in any on-chain activities, DeFi, CeDeFi, RWA, or other digital asset businesses, they should fully understand the relevant risks and make independent judgments and decisions on their own.