Bloomberg: GF Securities (Hong Kong) launches interest-bearing tokenized securities backed by offshore RMB

PANews reported on June 27 that according to Bloomberg, a person familiar with the matter revealed that a Chinese brokerage firm has begun to offer tokenized securities with interest in currencies such as US dollars, Hong Kong dollars and offshore RMB. 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. GF Securities (Hong Kong) did not immediately respond to this.