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Bloomberg: GF Securities (Hong Kong) Launches Tokenized Securities Supported by Offshore Renminbi and Accruing Interest
Summary: According to sources, a Chinese brokerage firm has begun offering tokenized securities accruing interest in currencies such as USD, HKD, and offshore Renminbi. The sources revealed that the Hong Kong subsidiary of GF Securities Co., Ltd. has introduced tokenized securities named 'GF Token' with daily interest accrual and redemption. The USD tokens are benchmarked against ...
According to sources, a Chinese brokerage firm has begun offering tokenized securities accruing interest in currencies such as USD, HKD, and offshore Renminbi. The sources revealed that the Hong Kong subsidiary of GF Securities Co., Ltd. has introduced tokenized securities named 'GF Token' with daily interest accrual and redemption. The USD tokens are benchmarked against the Secured Overnight Financing Rate (SOFR), while the interest rates for HKD and Renminbi products are still unclear. These tokens are only available to institutional and professional investors, allowing idle funds to generate interest and facilitating conversion between other tokenized assets. The tokens are issued on-chain and will be traded on the licensed cryptocurrency exchange Hashkey in Hong Kong. GF Securities (Hong Kong) has not responded immediately to this development.
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Link: Bloomberg: GF Securities (Hong Kong) Launches Tokenized Securities Supported by Offshore Renminbi and Accruing Interest [Copy]
