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

Odaily News A Chinese brokerage has begun offering tokenized securities that pay interest in currencies including the U.S. dollar, Hong Kong dollar and offshore renminbi, according to a person familiar with the matter. The Hong Kong subsidiary of GF Securities Co., Ltd. has launched a tokenized security called GF Token that pays interest daily and is redeemable daily, the person said. Among them, the U.S. dollar token is based on the Secured Overnight Financing Rate (SOFR), while the interest rates for the Hong Kong dollar and renminbi 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-chain and will be traded on Hashkey, a licensed cryptocurrency exchange in Hong Kong.
At present, GF Securities (Hong Kong) has not responded immediately. (Bloomberg)