Latest news with #GFsecurities
Finextra
a day ago
- Business
- Finextra
HashKey Chain and GF Securities partner on tokenisation
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. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. 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.
Bloomberg
a day ago
- Business
- Bloomberg
GF Securities Offers Offshore Yuan-Backed Token With Interest
A Chinese brokerage started offering tokenized securities with daily interest in currencies including the US and Hong Kong dollars and offshore yuan, according to a person familiar with the matter. GF Securities Co. 's Hong Kong unit launched daily-interest accruing, daily redeemable tokenized securities, known as 'GF Token,' the person said, asking not to be named discussing a private matter. The US dollar token is benchmarked to the Secured Overnight Financing Rate, while the rate for Hong Kong dollar and yuan products is unclear.
Phone Arena
04-06-2025
- Phone Arena
You can expect next year's iPhone 18 line to run cooler, faster, and have improved battery life
Have you noticed that application processors are getting more powerful and energy efficient every two to three years? That's because foundries develop lower process nodes resulting in smaller transistors that are show-horned into semiconductors. The more transistors inside a chip, known as the Transistor Count, the more powerful and energy-efficient a chip is. Also important is the Transistor Density which measures the number of transistors per square millimeter (Tr/mm²). Smaller node numbers usually indicate the higher density of a chip. A higher Transistor Density means that more transistors can be packed into the same physical space. Or, the foundry could make a chip with the same number of transistors much smaller. Higher density chips mean that the component can have a smaller die size allowing more to be cut from a silicon wafer thus reducing the cost of each chip. When transistors are closer together, which happens when a chip has a high Transistor Density, the electrical signals have less space to travel reducing latency and improving performance. According to Jeff Pu, an analyst with GF Securities, next year the iPhone 18 series will be powered by the A20 and A20 Pro application processors. These chipsets will be built by TSMC using its first-generation 2nm node known as N2. Thus, the A20 and A20 Pro will be the first 2nm processors found inside an iPhone and it will happen with next year's iPhone 18 and iPhone 18 Pro models respectively. Pu adds that in addition to being built using TSMC's 2nm process node, next year's iPhone application processors could feature a new packaging design called Wafer-Level Multi-Chip Module (WMCM). With this new design, multiple chips are integrated into the wafer before the latter is diced into individual chips. This would allow memory to be closer to parts of the chipset that use it such as the CPU, GPU, and Neural Engine. The shorter transits will improve the performance of the chip while allowing the phone to run cooler. It also could improve the handset's battery life. The size of the A20 and A20 Pro should be smaller than the A19 and A19 Pro SoCs that will power the iPhone 17 and iPhone 17 Pro lines this year. The smaller die size is expected to help make the A20 and A20 Pro as much as 15% faster than its predecessor and up to 30% more efficient.
Phone Arena
04-06-2025
- Business
- Phone Arena
iPhone 18 Pro might debut Apple's boldest chip upgrade in years
Apple's next big chip leap might be closer than we think. A fresh rumor hints at some major behind-the-scenes changes for 2026's A20 chip – and if true, it could set the stage for some of Apple's most exciting devices yet. We are yet to see the iPhone 17 series and its reported dramatic redesign, but rumors and leaks about next year's iPhone 18 series are spreading like wildfire. We're hearing that the base iPhone 17 may come with the iPhone 16's chip, but the Pro models will get upgraded to a new one, albeit still built on a 3nm process. It seems the jump may be bigger with the A20 chip, the one that's supposed to power the iPhone 18 Pro and Pro Max. According to GF Securities analyst Jeff Pu, the Cupertino tech giant may launch the A20 processor with the Pro-branded iPhone 18 and the mysterious first foldable from the company. Pu says that the new chip will use the 2nm process. As I already mentioned, the A18 chip (the current one) is built on a second-gen 3nm process, known as N3E. The upcoming A19, which is likely to power the iPhone 17 Air, is said to use a third-gen, N3P, process, but still 3nm. The process the A20 may use is referred to as N2. It would be a first-gen process. Basically, what this could mean is that the A20 may be about 15% faster than the A19, and more efficient (about 30% less power used than its predecessor). The iPhone 16 Pro sports the A18 Pro chip. | Image Credit - Apple It's been months that the rumor about the iPhone 18 models sporting a 2nm has been going around. Earlier, Ming-Chi Kuo stated all iPhone 18 models would come with such a chip, only to change his opinion later – to indicate that only the iPhone 18 Pro models would come with this chip. But there's another aspect to this story worth mentioning. A physical redesign of the chip is also rumored. Yes, a reduction in chip fabrication size is always beneficial, but a new design could bring even more advantages. Pu believes Apple will use TSMC's new Wafer-Level Multi-Chip Module, or WMCM. This new packaging process reportedly puts the memory straight onto the chip wafer. This means the memory will reside closer to the CPU, GPU, and Neural Engine. Thus, memory bandwidth should increase, as well as performance. Such a design, featuring shorter transits, will also help the hardware run cooler and even provide better battery life to the device. There were previous rumors about such a design originating in the Chinese social media website Weibo. However, Pu's notes are giving credibility to this rumor now. The iPhone 18 series is still shrouded in mystery, expected in 2026. Before these phones, we have the iPhone 17 phones to look forward to, coming in the fall of this year. There may be a new design to the iPhone 17 Pro and Pro Max, and also a new model may come to replace the 'Plus' – an iPhone 17 Air . The Air is expected to be a super-thin rival to the newly-announced Galaxy S25 Edge. As for Apple's first foldable iPhone , this one is expected to be a book-style foldable, similar to the Galaxy Z Fold models. A massive leak earlier this year revealed quite a lot of what we might expect from this phone, but so far, everything is unconfirmed and speculative. Meanwhile, Samsung is about to unveil (in early July) its next-gen Galaxy Z Fold – the Galaxy Z Fold 7, which is said to sport the Snapdragon 8 Elite for Galaxy, the chip in the Galaxy S25 series. Although it's very early to know for certain anything when it comes to the iPhone 18 (and 17, if I may add), this leak paints an exciting picture nonetheless. What draws me in especially when it comes to these improvements isn't the speed, per se, as for me, flagship processors are fast already, but the improvements in battery life. For me, battery life as a key aspect of the experience with a phone is of utmost importance, and any upgrades here are always welcome.
GSM Arena
31-05-2025
- Business
- GSM Arena
iPhone 17 to be an underwhelming upgrade
Vlad, 31 May 2025 A few hours ago a rumor claimed the iPhone 17 would grow its screen size to 6.3" (from 6.1" in the iPhone 16), matching the Pro model. With this rather significant upgrade in tow, you may have expected the phone to come with other substantial upgrades in other areas as well. But apparently not. According to a new research note by GF Securities analyst Jeff Pu, the iPhone 17 will be powered by the A18 chip, and will have 8GB of RAM. Those are not typos - that's the exact same chipset and RAM amount that its predecessor has. iPhone 16 So, in this regard, the iPhone 17 will just be an ever so slightly larger iPhone 16. This is despite the fact that all three other members of its family will get the A19 chip as well as 12GB of RAM. The iPhone 17 was at one point said to be considered for a memory upgrade, but that was apparently decided against after all. As for the chip staying the same as in the iPhone 16, that's a more baffling decision that clearly won't make it a best-seller. But maybe that's the point - Apple trying to nudge people towards the more expensive and more profitable Air, Pro, and Pro Max models. Apple iPhone 16 128GB 8GB RAM $ 594.90 $ 594.90 256GB 8GB RAM $ 669.00 Via
