2 days ago
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.
