Dear HashKey Exchange Clients,
HashKey Earn Channel is excited to launch STBL, a tokenized repackaging note backed by a portfolio of AAA-rated USD-denominated money market funds (MMFs), which is arranged and managed by licensed asset manager Cinda International Asset Management Limited (CIAM). Qualified clients can now enjoy up to 4.34% APR on their STBL holdings.
Qualified clients can subscribe to STBL with USD. Upon subscription, clients will receive the same amount of STBL in their Earn Account at a 1:1 ratio. When redeeming, STBL will be redeemed to USD at a 1:1 ratio. Without any subscription and redemption fees charged by HashKey Exchange.
Product Details:
- Product Name: Short-Term Asset-Backed Liquidity Note Token (STBL)
- Supported User Type: Professional Investors Only
- Subscription & Redemption Currency: USD
- Issue Price: 1 STBL = 1 USD
- Minimum Subscription & Redemption Amount: 1 USD
- Order Settlement Time: T+1
- Yield Accrual: Yield accrues daily and is credited monthly to clients' Earn Account in the form of STBL. The yield is a floating APR indexed to SOFR.
- Fees: 0 subscription and redemption fees
Please note:
- STBL is not a stablecoin. It is a tokenized repackaging note for professional investors, with floating, SOFR-referenced returns and capital at risk.
- APR (up to 4.34%) is floating and may change at any time. Refer to the STBL website for the latest information.
- Bank transfer fee may be incurred during the payment process for subscription. The subscription amount will be based on the actual funds received by the Bank of New York Mellon. According to past experiences, no bank transfer fee would be incurred during the payment process for redemption. While any bank transfer fee is incurred during the payment process for redemption, the investor may need to bear the bank transfer fee accordingly.
- Subscription and redemption requests placed before 5:00 PM (Hong Kong time) on a trading day are generally processed on the next trading day (T+1). Requests placed after 5:00 PM (Hong Kong time) on a trading day are generally processed on the second trading day (T+2). The trading day is defined as business day which both Hong Kong and U.S. Markets are open for business, excluding public holidays in Hong Kong and the U.S. Please note that subscriptions are subject to the product issuer's actual receipt of funds, and redemptions require confirmation by the issuer and processing through the banking system. As such, the actual completion time may exceed the aforementioned timelines. The final subscription confirmation or receipt of redemption proceeds should be taken as the definitive completion time.
- Please refer to STBL Indicative Termsheet and Risk Factors for more information prior to using the STBL services.
- STBL cannot be traded, transferred to another user’s account, or withdrawn on-chain to a DeFi wallet.
About STBL:
Short-Term Asset-Backed Liquidity Note Token (“STBL”) is a tokenized structured product arranged and managed by licensed asset manager Cinda International Asset Management Limited (CIAM), designed for professional investors. STBL maintains a stable value of US$1 per note represented by a token. Issuance and transfers are recorded entirely on the blockchain and do not rely on traditional clearing infrastructure, enhancing transparency and efficiency. All holdings are recorded under a registered structure, with real-time verifiability and auditability of investor positions. Interest is derived from the underlying MMFs and is automatically distributed monthly in the form of newly issued tokens. CIAM rebalances the portfolio on a weekly basis to maintain structural integrity and return stability. The product supports daily subscription and redemption and includes an additional issuance mechanism, allowing for future expansion in line with market demand to accommodate institutional allocation needs.
For More Information:
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- Non-Exercise of Voting Rights: HashKey Exchange does not exercise voting rights associated with virtual assets on behalf of its users. The role of HashKey Exchange is strictly to provide a trading platform for these assets, not to participate in the governance of any assets that may confer voting rights.
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HashKey Exchange encourages users to fully understand the rights associated with any virtual assets they may hold.
Legal disclaimer: This material has been prepared for general informational purposes only and should NOT be: (1) considered an individualized recommendation or advice; or (2) relied upon for any investment activities. All information is provided on an as-is basis and is subject to change without notice. We make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability, or completeness of any such information. HashKey Exchange does NOT provide investment, legal, or tax advice in any manner or form. The ownership of any investment decision(s) exclusively vests with you after analyzing all possible risk factors and by exercising your own independent discretion. HashKey Exchange shall not be liable for any consequences thereof.
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Hash Blockchain Limited
Hash Blockchain Limited is responsible for the issue of this material in Hong Kong. It is licensed by the Securities and Futures Commission for Types 1 and 7 regulated activities under the Securities and Futures Ordinance, and has obtained a license to operate a virtual asset trading platform under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). HashKey Exchange does not service users from Mainland China, United States and certain other jurisdictions in compliance with laws and regulations. This material has not been reviewed by the Securities and Futures Commission of Hong Kong or any other regulator.
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