HashKey Group Partners with CIAM to Launch Short-Term Asset-Backed Liquidity Notes
HashKey Group (HSK), a Hong Kong-based Web3 company, has partnered with Cinda International Asset Management Limited (CIAM) to launch Short-Term Asset-Backed Liquidity Notes (STBL). CIAM recently announced STBL's launch on the Ethereum (ETH) network in collaboration with NVT, another Hong Kong-based web3 company, ensuring streamlined issuance and distribution.
This partnership aims to boost mainstream adoption of STBL, with plans to expand its issuance to HashKey Chain, an emerging Ethereum Layer Two (L2) network.
Terence Pu, Managing Director of HashKey Exchange, stated that “STBL enhances operational efficiency while providing stable, low-risk returns for investors, building market confidence.” He noted HashKey Exchange's role in connecting high-quality security token offerings (STOs) with the crypto investor community, anticipating future innovations on HashKey Chain.
Importance of STBL Issuance on HashKey Chain
The STBL launch, backed by AAA-rated money market funds (MMFs), marks a significant development for HashKey Group and the web3 sector in Hong Kong. The STBL tokens are easily transferable and maintain a stable value of $1 per token, similar to decentralized stablecoins secured by various crypto assets.
Furthermore, STBL serves as a bridge between traditional finance and blockchain technology. HashKey Group will collaborate with GF Securities as one of the initial distributors of STBL.
HashKey Group anticipates substantial growth in real-world assets (RWA), with projections estimating the tokenized industry to reach $600 billion in assets under management (AUM). Within this sector, MMFs have generated over $400 billion annually through lending, trading, and DeFi integrations.
The introduction of MMFs on HashKey Chain is expected to enhance DeFi collateralization, institutional cash management, cross-border payments, and yield generation.
According to the announcement, “Through partnerships with CIAM, NVT, and GF Securities, HashKey Chain is positioned to bring these innovations to life,” facilitating fast, transparent transactions and bridging institutional finance with retail adoption.
Market Overview
HashKey Group is expanding the adoption of its products and services, led by its native token HSK. This mid-cap altcoin has a fully diluted valuation of approximately $1.96 billion and a 24-hour average trading volume of about $8.53 million. HSK has increased over 56 percent in the past two weeks, currently trading at around $1.96.
With the increasing mainstream adoption of web3 protocols and digital assets in Asia, HashKey Group is positioned to develop into a significant ecosystem supported by the community.