Bloomberg: GF Securities (Hong Kong) will launch tokenized securities backed by offshore RMB and bearing interest

Odaily Planet Daily News According to a person familiar with the matter, a Chinese brokerage has begun to offer tokenized securities with interest in currencies such as the US dollar, Hong Kong dollar and offshore renminbi. The person said that the Hong Kong subsidiary of GF Securities Co., Ltd. has launched a tokenized security called "GF Token" that is interest-bearing and redeemable daily. Among them, the US dollar token is based on the Secured Overnight Financing Rate (SOFR), while the interest rates of Hong Kong dollar and RMB products are not yet clear. The person said that this token is only available to institutions and professional investors. It can generate interest on short-term idle funds and can also be used to convert between other tokenized assets. The token is issued on the chain and will be traded on Hashkey, a licensed cryptocurrency exchange in Hong Kong. At present, GF Securities (Hong Kong) has not immediately responded to this. (Bloomberg)