HashKey Chain & GF Securities Launch First Tokenized Security in Hong Kong: A Step Toward Onchain Finance

The Quiet Revolution in Onchain Finance

I’ve spent five years at hedge funds building quantitative models that scream ‘efficiency,’ yet nothing prepared me for the elegance of this move: HashKey Chain and 广发证券（香港） have quietly launched Hong Kong’s first fully compliant tokenized security—GF Token. No fanfare. No hype. Just a clean chain deployment, multi-currency yield pegs (SOFR!), and institutional-grade infrastructure.

This isn’t DeFi chaos. It’s regulated finance with a codebase.

Why This Matters: RWA Is Finally Growing Up

For years, RWA (Real World Asset) talk felt like philosophy—beautiful in theory but stuck in pilot mode. But GF Token changes that.

It’s not just “tokenizing” an asset—it’s enabling daily redemption, multi-currency support (USD/HKD/CNY), and distributed custody across traditional and chain-native wallets. That last part? Game-changing.

Imagine your pension fund buying a token-backed bond from HSBC one day, then swapping it for a municipal note from Standard Chartered seconds later—all while staying within KYC/AML rules.

That’s what GF Token enables: seamless interoperability between legacy institutions and Web3 infrastructure.

The Tech Stack That Makes It Work

Let’s geek out—because I love it when systems work like clockwork.

• HashKey Chain: Built on Ethereum-compatible security with low gas fees and high throughput—perfect for money market instruments.
• NexaToken (by HashKey Cloud): Handles asset origination and minting securely.
• HashKey Exchange: Powers distribution to professional investors via familiar interfaces.
• And critically—the entire lifecycle is recorded on-chain: transparent, auditable, irreversible.

You don’t need to trust the middleman anymore—you trust the ledger.

Institutional Adoption Is Real Now

When Guangfa Securities’ CEO says this is “a milestone in our digital product evolution,” he means it. This follows their 2024 debut as HK’s first Chinese broker to issue a tokenized security under local law—an early signal that banks aren’t just dabbling anymore.

Now they’re doing it right:

• Full regulatory alignment via SFC guidance (2023)
• Multi-party collaboration across exchange, cloud, compliance — all orchestrated by HashKey Group — direct integration without reinventing wheels.

It feels less like innovation and more like maturation of onchain finance.

My Take: Not Hype — Infrastructure First — Again —

correctly positioned as such by Shao Feng himself: “RWA needs true bidirectional integration.” Not crypto pretending to be finance—but finance adopting crypto as tooling.