Coinspeaker Hashkey Group Collaborates with CIAM on Launching and Distribution of STBL Tokenized Notes
HashKey Group (HSK), a Hong Kong-based Web3-focused company, has announced a strategic partnership with Cinda International Asset Management Limited (CIAM) to launch and distribute Short-Term Asset-Backed Liquidity Notes (STBL). Last week, CIAM announced the official launch of STBL on the Ethereum (ETH) network with key collaboration with NVT, a Hong Kong-based web3-focused company, to ensure seamless STBL issuance and distribution.
The collaboration between HashKey Group and CIAM will enhance the mainstream adoption of the STBL product ahead. Moreover, plans are underway to expand the STBL issuance to HashKey Chain, a fast-growing Ethereum Layer Two (L2) network.
“STBL enhances operational efficiency while providing stable, low-risk returns for investors, building market confidence. As Hong Kong’s largest licensed virtual asset exchange, HashKey Exchange bridges high-quality security token offerings (STOs) with the growing crypto investor community. We look forward to HashKey Chain’s future involvement in offering innovative on-chain financial solutions,” Terence Pu, Managing Director of HashKey Exchange, noted.
Why the STBL Issuance on HashKey Chain Matters
The launch of STBL, which is backed by AAA-rates money market funds (MMFs), is a major milestone for the HashKey Group and the web3 industry in Hong Kong. Moreover, the STBL is seamlessly transferable and ensures a stable value of $1 per token, akin to the decentralized stablecoins collateralized by different crypto assets.
Additionally, the STBL product bridges the gap between traditional finance and blockchain technology. Notably, HaskKey Group will work alongside Hong Kong-based GF Securities as one of the initial distributors of STBL.
The HashKey Group is betting on the exponential growth of real-world assets (RWA), with some experts projecting the tokenized industry to reach $600 billion in AUM. In the subsection of RWA, the MMFs have registered more than $400 billion annually via lending, trading, and DeFi integrations.
The launch of MMFs on HashKey Chain will enhance DeFi collateralization, institutional cash management, cross-border payments, and yield generation, among others.
“Through its partnerships with CIAM, NVT, and GF Securities, HashKey Chain is uniquely positioned to bring these innovations to life. By enabling fast, transparent, and accessible transactions, the platform will help bridge the gap between institutional finance and retail adoption, making high-quality financial products available to everyone,” the announcement highlighted.
Market Picture
The HashKey Group has been widening the adoption of its products and services with its native token HSK at the helm. The mid-cap altcoin, with a fully diluted valuation of about $1.96 billion and a 24-hour average trading volume of around $8.53 million, has surged over 56 percent in the past two weeks to trade at about $1.96 at the time of this writing.
With the ongoing mainstream adoption of web3 protocols and digital assets in Asia, HashKey Group is well positioned to grow to a major ecosystem backed by the community.
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Hashkey Group Collaborates with CIAM on Launching and Distribution of STBL Tokenized Notes
