HashKey Chain Partners with GF Securities (Hong Kong) to Launch First Tokenized Security with End-to-End On-Chain Deployment and Issuance
June 27th, 2025, Hong Kong – HashKey Chain has officially announced that GF Securities (Hong Kong) has become the first securities firm in Hong Kong to issue tokenized securities by fully integrating with HashKey Chain as its core on-chain issuance network. GF Securities (Hong Kong) has launched the first daily-interest-accruing, daily-redeemable tokenized securities, named "GF Token", a building block to enable switching between different tokenized securities. This product also features its first-ever multi-channel distribution and token custody model for on-chain securities, now available to both High-Net-Worth-Individual and institutional professional investors (PIs). This project is executed with active participation from multiple business units under HashKey Group. This milestone signifies a major step forward in the city's real world asset (RWA) tokenization journey and lays the groundwork for broader on-chain collaboration of tokenized securities by Hong Kong securities industry in the future.
"GF Token" is a class of tokenized securities issued by GF Securities (Hong Kong) backed by its credit support. GF Securities (Hong Kong) launches three products in different currencies: USD, HKD, and offshore RMB. Among these, the USD version is benchmarked to the Secured Overnight Financing Rate (SOFR), designed to serve as a fair, transparent, and low-volatility cash management instrument. "GF Token" features high liquidity, accrues interest daily, and is fully recorded on-chain via HashKey Chain, enabling transparent and traceable transaction flows. This aims to make "GF Token" a building block for tokenized financial assets, by providing a seamless on-chain net settlement mechanism that enables investors to switch between different tokenized securities.
Compared to GF Securities (Hong Kong)'s earlier tokenized securities, "GF Token" features multi-channel distribution and token custody. Investors can subscribe through GF Securities (Hong Kong) or HashKey Exchange, and hold tokenized securities either via traditional securities accounts or directly on chain, allowing traditional investors to participate broadly across all aspects of tokenized securities in familiar settings. In addition to institutional professional investors, "GF Token" in this product launch is also made available to HNWI PIs, aiming to promote tokenized securities and related services to broader audience.
With the daily interest accrual mechanism, the product meets both institutional investors’ needs for short-term idle capital management, and Web3 users' expectations for native on-chain assets. As a forward-looking, compliant financial product, "GF Token" demonstrates the potential of combining real-world assets with blockchain infrastructure, offering a replicable and scalable model for RWA scenarios.
Notably, while HashKey Chain serves as the core issuance network, multiple business units under HashKey Group were also deeply involved in the on-chain launch of "GF Token":
- NexaToken, a service by HashKey Cloud, enabled the asset's tokenization.
- HashKey Tokenisation contributed to GF's tokenization initiative by offering technical consultation and feasibility assessments.
- HashKey Exchange facilitated professional investor distribution through its network.
This arrangement represents a pioneering end-to-end model encompassing asset issuance, token custody, and multi-point distribution, establishing a robust foundation for future security dealer-led tokenized asset issuance and on-chain cooperation.
Mr. Zeng Chao, CEO of GF Securities (Hong Kong), commented: "The launching of GF Token is a major milestone for GF Securities (Hong Kong)'s digital product strategy, and an important extension of our chain-based product innovation. We value our partnership with HashKey Group and HashKey Chain. Their comprehensive infrastructure and exchange capabilities enable GF's products to enter the public blockchain world more efficiently. Over the years, we, at GF Securities (Hong Kong), have been committed to financial innovation, leveraging fintech to expand our footprints in digital finance. The collaboration with HashKey Group to launch GF Token is a key initiative in building Hong Kong's tokenized securities ecosystem. We believe this step will further solidify GF Securities (Hong Kong)'s first-mover advantage in emerging digital finance."
In January 2024, GF Securities (Hong Kong) became the first Chinese securities firm to issue tokenized securities under Hong Kong law, minting, issuing, and distributing financial assets on a public chain. This was also the first tokenized security issued following the SFC's circulars regarding tokenized securities published in November, 2023. Since then, the firm has introduced tokenized securities linked to equities and other financial assets. In January 2025, it partnered with Cinda Asset Management to launch the first tokenized note backed by a fund, continuously expanding the ecosystem of tokenized securities.
Dr. Xiao Feng, Chairman of HashKey Group, said: "Bringing real-world assets (RWAs) on-chain requires deep integration between financial institutions and blockchain technology providers. The launch of ‘GF Token’ perfectly reflects this synergy. As the preferred chain for financial assets, HashKey Chain will continue to offer trustworthy infrastructure for compliant assets and help position Hong Kong as the world's most vibrant hub for onchain finance."
Kay, Head of HashKey Chain, added: "‘GF Token’ represents a pivotal practice in the on-chain transformation of traditional financial assets. As a blockchain infrastructure purpose-built for compliant assets, HashKey Chain is honored to provide GF Securities (Hong Kong) with a stable and composable technical foundation. We believe that with more leading financial institutions joining, onchain finance will gradually form a closed-loop ecosystem, redefining how assets are issued, traded, and governed."
HashKey Chain will continue to deepen collaborations with traditional financial institutions such as securities firms and banks, expanding mechanisms for compliant on-chain asset issuance and circulation. Through the combination of high-performance blockchain infrastructure and trusted assets, HashKey Chain is helping Hong Kong establish a real-world-ready Onchain Finance benchmark.
HashKey Chain携手广发证券（香港）推出首个代币化证券 实现端到端部署与发行
【2025年6月27日，香港】HashKey Chain宣布，广发证券（香港）作为首个于香港发行代币化证券的券商，现已全面接入HashKey Chain作为核心链上发行网络，并发行首个每日可申赎代币化证券 “GF Token”。
“GF Token”代币化证券首次实现了证券在链上的 “多点销售、多托管方式”布局，致力成为链上代币化资产的基准化产品，方便投资人在链上实现不同代币化证券间的实时无缝切换。高净值个人专业投资者及机构专业投资者均可参与认购、交易。此次发行获得HashKey Group 旗下多个业务机构的深度参与，标志着香港金融科技生态在RWA（Real World Asset真实世界资产）路径上再次迈出关键一步，为推动下一阶段金融机构发行或安排的代币化资产在链上发行及合作奠定了坚实基础。
“GF Token” 是一款由广发证券（香港）基于其信用支持发行的代币化证券，此次发行同步向投资者推出了美元、港币及离岸人民币等三个币种。其中美元代币化证券的收益率锚定美国隔夜担保融资利率（SOFR），为用户提供公平透明、低波动性的美元计价现金管理工具。“GF Token”具有高流动性，支持每日计息，并通过HashKey Chain全程链上记录，实现资产流转的公开透明与可追溯功能，致力将“GF Token”打造为链上代币化资产的基准化产品，方便投资者通过“GF Token”在链上实现不同代币化证券间的实时无缝切换。
较广发证券（香港）较早前发行的代币化证券，此款“GF Token”具有多点分销及代币托管的特点。投资人可通过广发证券（香港）或HashKey Exchange认购，多点下单，亦可使用传统证券托管模式持有该代币化证券，方便传统投资者广泛、持续、深入参与代币化证券投资的交易及托管等各个环节。除机构专业投资者外，高净值个人专业投资者亦可参与认购及交易此款“GF Token”。这一安排进一步拓宽了代币化证券及其服务的投资者群体。
该产品采用每日计息机制，既适用于机构对短期闲置资金的管理，也契合Web3用户对链上原生资产的使用习惯。作为一种面向未来的合规金融产品，“GF Token”充分展现了现实资产与链上基础设施结合的可能性，为链上RWA场景提供了可复制、可扩展的参考路径。值得一提的是，HashKey Chain作为该产品的核心发行网络的同时，HashKey Group 旗下多个业务机构深度参与了此次“GF Token”的链上发行：由HashKey Cloud提供的NexaToken服务为该产品实现资产代币化，HashKey Tokenisation参与广发证券（香港）代币化产品计划并就代币化技术应用提供咨询及可行性建议，并可通过HashKey Exchange向专业投资者开放分销。这一安排创新性探索出了“资产发行—代币托管—分销流通”的一站式路径，为下一阶段更多金融机构发行或安排的代币化资产的链上发行及合作奠定基础。
广发证券（香港）首席执行官曾超先生表示： “此次推出的‘GF Token’是广发证券（香港）持续打造数字化产品体系的重要里程碑，也是广发证券（香港）探索完善链上金融产品系列的延续。我们重视与HashKey Group及旗下HashKey Chain的合作。其完整的基础设施及交易所功能，能够让广发资产以更多元且便利的方式进入公链世界。多年来，广发证券（香港）着眼业务创新，充分利用金融科技，持续加大在数字金融领域的布局，全力为客户提供多元化投资产品及服务。此次与HashKey Group 的合作推出‘GF Token’，也是公司积极推动构建香港代币证券生态的关键举措之一。我们相信，此举将进一步巩固广发证券（香港）在新兴数字金融领域的先发优势。” 2024年1月，广发证券（香港）率先在香港成功发行首单适用香港法的代币化证券，成为首家将自主创设的金融资产在公链上完成铸币、发行、分销的中资券商。这也是香港证监会于2023年11月发布《代币化通函》等监管指引后的首次代币化证券发行。此后，公司陆续推出了与股票等金融资产挂钩的代币化证券。2025年1月，公司与信达资管合作落地首单基金底层代币化证券分销与交易，不断丰富代币化证券领域的底层生态。
HashKey Group董事长肖风博士表示： “现实世界资产（RWA）的链上化需要金融机构与我们区块链技术平台真正的双向集成，而‘GF Token’的发布正体现了这一理念。HashKey Chain作为金融类资产的首选链，将持续为合规资产提供可信赖的底层支撑和基础设施，推动香港成为全球最具活力的链上金融枢纽。”
HashKey Chain 负责人Kay表示： “‘GF Token’是传统金融资产链上化进程中的一次关键实践。作为专为合规资产设计的区块链基础设施，HashKey Chain很荣幸能为广发证券（香港）提供稳定、可组合的技术底座，推动链上RWA产品从概念走向落地。我们相信，随着更多头部金融机构的加入，链上金融将逐步形成完整的生态闭环，重构资产发行、流通与治理的方式。”
HashKey Chain未来将持续扩大与包括券商、银行在内的传统金融机构合作，进一步拓展合规资产的链上发行与流转机制。通过高性能的链上基础设施与可信资产的结合，助力香港打造真实可用的Onchain Finance核心样本。
About HashKey Chain
HashKey Chain is the preferred blockchain for financial institutions and RWA tokenization, dedicated to promoting compliant and scalable Onchain Finance. As a compliance-friendly blockchain infrastructure, HashKey Chain provides a secure and transparent on-chain environment for institutions. HashKey Chain inherits Ethereum's decentralized security while enhancing transaction efficiency through high-performance optimization, ensuring on-chain asset stability and traceability. Its low-cost solution offers minimal Gas fees and high throughput, enabling efficient circulation of MMFs, bonds, funds, and stablecoins while reducing institutional operational costs. HashKey Chain collaborates with leading financial institutions and compliant Web3 projects to provide solutions for institutional DeFi, RWA tokenization, and stablecoin settlement, accelerating the financial system's digital transformation.
Official website: https://hsk.xyz/
Media Contact: [email protected]
About GF Securities (Hong Kong)
GF Securities (Hong Kong), comprising GF Holdings (Hong Kong) and its subsidiaries, is the core platform of GF Securities Co., Ltd. (Stock code: 000776.SZ, 1776.HK) to implement its globalization strategy. GF Securities (Hong Kong) thrives to become a leading Chinese securities firm that bridges investment needs between Mainland China and global markets.Established in 2006, GF Securities (Hong Kong) provides comprehensive financial services—covering global markets, wealth management and brokerage, and capital markets—to global and local enterprises, institutions, retail, and high-net-worth clients. It holds HK SFC licenses Type 1, 4, 6, and 9.
Official website: www.gfgroup.com.hk
Media Contact: media@ gfgroup.com.hk; [email protected]
Disclaimer
HashKey Chain only serves as a technical infrastructure provider, supporting issuers in deploying and issuing tokenized products on-chain. The authenticity, origin, custody, security, pricing mechanism, and regulatory compliance of tokenized products are solely the responsibility of the issuer and its appointed third-party service providers and are unrelated to HashKey Chain. The information herein is for general reference only and does not constitute an offer, solicitation, or recommendation of any virtual asset, security, or financial instrument. Forward-looking statements in this material—including but not limited to ecosystem development plans or expected use cases—may change due to legal, technical, or regulatory factors, and actual outcomes may differ materially. HashKey Chain makes no express or implied warranties regarding the accuracy, completeness, or reliability of the information. This material is intended only for audiences in jurisdictions where such content is legally permissible and should not be considered an offer or solicitation where prohibited by law or regulation.
GF Securities (Hong Kong), comprising GF Holdings (Hong Kong) and its subsidiaries, including GF Securities (Hong Kong) Brokerage Limited - licensed by the Securities and Futures Commission of Hong Kong (“SFC”) to conduct Type 1 (“Dealing in securities”) and Type 4 (“Advising on Securities”) Regulated Activity. The content of the article has not been reviewed by the SFC. The Tokenized Security or financial instrument mentioned in this report may not be allowed to be sold in certain jurisdictions.
No representation or warranty, either express or implied, is made by GF Securities (Hong Kong) as to their accuracy and completeness of the information contained in this article. GF Securities (Hong Kong) accepts no liability for all loss arising from the use of the materials presented in this article. The information herein is for general reference only and does not constitute an offer, solicitation, or recommendation of any Tokenized Security or financial instrument. Forward-looking statements in this material—including but not limited to ecosystem development plans or expected use cases—may change due to legal, technical, or regulatory factors, and actual outcomes may differ materially.
Please be aware of the fact that investments involve risks and the price of Tokenized Security or financial instrument mentioned in this report may be fluctuated and therefore return may be varied, past results do not guarantee future performance, where necessary, recipients should obtain professional advice before making investment decisions.
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免责声明Disclaime HashKey Chain仅作为技术基础设施提供方，支持资产发行方在链上部署与发行代币化产品。代币化产品本身的真实性、来源、托管、安全性、定价机制及其合规性由发行方及其第三方服务机构负责，与HashKey Chain无关。本材料所载信息仅用于一般参考，不构成对任何虚拟资产、证券或金融工具的要约、招揽或建议。本材料中可能包含的前瞻性陈述，包括但不限于生态发展计划、预期用途场景等，可能会受到法律、技术、监管等因素影响而有所变动，实际结果可能与预期大相径庭。HashKey Chain 不对本材料中所载信息的准确性、完整性或可靠性作出任何明示或暗示的保证。本材料仅面向法律允许接收此类信息的特定地区/人士，不应被视为在任何法律或监管禁止的地区进行的要约或招揽行为。
广发证券（香港）包括广发控股(香港)有限公司及/或其在港成立的相关子公司, 包括广发证券(香港)经纪有限公司 - 从事证券及期货条例(香港法例第571章)中第一类(证券交易)及第四类(就证券提供意见)受规管活动之持牌法团。本文件所提到的代币化证券或金融工具或不能在某些司法管辖区出售。
本资料所包含的案例及数据均为举例说明，仅供案例演示之用。尽管我们在制作本方案时已竭尽谨慎，但对于本资料包含的信息或数据的公开性、完整性和正确性，广发证券（香港）并未作出任何明示或默示的陈述或保证，且不应依赖上述信息或数据。本材料所载信息仅用于一般参考，不构成对任何代币化证券或金融工具的要约、招揽或建议，且不构成任何合同或承诺的基础或依据。本材料中可能包含的前瞻性陈述，包括但不限于生态发展计划、预期用途场景等，可能会受到法律、技术、监管等因素影响而有所变动，实际结果可能与预期大相径庭。
投资涉及风险，过往表现并非未来表现的指示。投资者可能会蒙受损失。投资者不应单凭本概览投资于本文件所述之代币化证券或金融工具，并应阅读说明书所载的进一步详情，包括风险因素，尤其是投资新兴市场的风险。读者务请运用个人独立思考自行作出投资决定并寻求专业意见（如有需要）, 以确保投资决定适合财务状况。如因本文件之相关内容致任何损失，概与广发证券(香港)、广发证券股份有限公司及其子公司无关。本文件由广发证券(香港)刊发，并未经证监会审核。