PANews reported on December 24 that HashKey Group announced a partnership with Cinda International Asset Management to launch the first STBL project issued by a Hong Kong financial institution. Hash Blockchain Limited ("HashKey Exchange") serves as the first distributor of STBL, a short-term asset-backed liquidity note token issued by Cinda International Asset Management. In the future, Cinda International Asset Management also plans to expand the issuance of STBL to HashKey Chain and introduce innovative incentive mechanisms to expand the investor base.
Terence Pu, Managing Director of HashKey Exchange, said: "The STBL project not only improves operational efficiency, but also provides investors with stable and low-risk returns, thereby enhancing market confidence. As the largest* licensed virtual asset exchange in Hong Kong, HashKey Exchange is focused on bridging the gap between high-quality STO products and the growing cryptocurrency investor community. We also look forward to the participation of HashKey Chain in the future to provide more innovative on-chain financial solutions for the project."
The underlying assets of STBL are AAA-rated money market funds (MMFs) portfolios. Each STBL has a face value of $1 and can be transferred 24/7. The accumulated daily interest will be automatically distributed to professional investor wallets in the form of newly issued tokens on the monthly dividend date.
Cinda International Asset Management will serve as the manager of STBL, NVT will provide blockchain operation services for STBL's blockchain agent, and provide technical support solutions for STBL's issuance on the blockchain. GF Securities (Hong Kong) Brokerage Co., Ltd. and HashKey Exchange will serve as the first distributors of STBL.
