GF Securities Launches Offshore Yuan-Backed Tokenized Securities in Hong Kong Amid Crypto Push

Hong Kong is accelerating its transformation into a global digital finance hub, and Chinese brokerage GF Securities is stepping firmly into the spotlight. In collaboration with blockchain firm HashKey Group, GF Securities has unveiled a new suite of tokenized securities, available in U.S. dollars, Hong Kong dollars, and offshore yuan.

Announced Friday, the offering—called "GF Token"—is aimed at high-net-worth individuals and institutional investors. The tokens accrue daily interest, are redeemable on a daily basis, and are issued on HashKey Chain, a blockchain platform purpose-built for regulated digital assets.

HashKey Chain Partners with GF Securities (Hong Kong) to Launch First Tokenized Security with End-to-End On-Chain Deployment and Issuance

June 27, 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 firs

HashKeyGroupHashKey Group

The U.S. dollar version of GF Token is pegged to the Secured Overnight Financing Rate (SOFR), which reflects the cost of borrowing cash overnight backed by U.S. Treasury securities.

Secured Overnight Financing Rate Data - FEDERAL RESERVE BANK of NEW YORK

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HashKey hailed the move as a breakthrough for Hong Kong’s growing real-world asset (RWA) tokenization efforts.

“This milestone signifies a major step forward in the city's RWA tokenization journey and lays the groundwork for broader on-chain collaboration,” the company said in a statement.

Zeng Chao, CEO of GF Securities (Hong Kong), emphasized the firm's strategic focus on innovation.

“The collaboration with HashKey Group to launch GF Token is a key initiative in building Hong Kong's tokenized securities ecosystem,” he said. “We believe this step will further solidify our first-mover advantage in emerging digital finance.”

The announcement came just one day after Hong Kong’s government released “Policy Statement 2.0,” its updated framework supporting digital assets and RWA tokenization. Financial Secretary Paul Chan described the document as a clear signal of Hong Kong’s ambition to integrate blockchain technology into mainstream finance.

Meanwhile, other major players are moving quickly. Earlier this week, Guotai Junan International received regulatory approval to offer cryptocurrency trading services in the city. Firms like China Merchants Securities and Huatai International are also pursuing license upgrades to expand their digital asset offerings.

With regulators opening the door and major institutions stepping through it, Hong Kong is positioning itself at the forefront of regulated digital finance in Asia.