According to Foresight News, HashKey Group announced a cooperation with Xinda International Asset Management to launch the STBL project, the first short-term asset-backed liquidity note token issued by a Hong Kong financial institution, with HashKey Exchange serving as the first distributor of STBL issued by Xinda International Asset Management. In the future, Xinda International Asset Management also plans to expand the issuance of STBL to HashKey Chain and introduce incentive mechanisms to broaden the investor base. The underlying assets of STBL are a portfolio of AAA-rated money market funds (MMFs). Each STBL has a par value of 1 USD, can be transferred 24/7, and will automatically distribute accumulated daily interest to professional investor wallets in the form of newly issued tokens on each monthly dividend day.
Xinda International Asset Management will act as the manager of STBL, NVT will provide blockchain operation services for STBL as its blockchain agent, and will provide technical support solutions for the issuance of STBL on the blockchain. GF Securities (Hong Kong) Brokerage Limited and HashKey Exchange will serve as the first distributors of STBL.