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Bloomberg: GF Securities Hong Kong subsidiary launches GF Token, a token product backed by offshore RMB

According to online reports, according to Bloomberg, the Hong Kong subsidiary of China brokerage Guangfa Securities has begun to launch the "GF Token" tokenized securities product with daily interest income and can be redeemed daily. The product supports multiple currencies such as US dollars, Hong Kong dollars and offshore RMB. According to people familiar with the matter, the yield on US dollar tokens is pegged to the Overnight Guaranteed Financing Rate (SOPR), while the specific interest rates for Hong Kong dollar and RMB products are unclear. These tokenized securities have the characteristics of daily interest-bearing and daily redemption. The source said that this token is only available to institutional 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. GF Securities (Hong Kong) did not immediately respond to this.

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