HSK Chain, the institutional-grade public blockchain under HashKey (Stock Code: 3887.HK), today announced a strategic partnership with Morpho, a leading decentralized, non-custodial lending protocol and open credit network. The collaboration will bring together each party’s core strengths in on-chain lending infrastructure and on-chain financial innovation to jointly develop lending products for institutional and retail users, and to explore the large-scale adoption of on-chain financial services worldwide.
Under the agreement, Morpho will complete a full on-chain deployment on HSK Chain and become the official lending partner for HSK Chain’s on-chain lending business. The partnership spans multiple business lines across HashKey Group and will extend into HashKey’s upcoming crypto wallet and super-app integrations.
HashKey Capital, HashKey Group’s institutional-grade asset management platform, has also made a strategic investment in Morpho. The Capital team believes the industry is at a pivotal moment as DeFi lending transitions toward institutional-grade infrastructure. By decoupling the underlying lending protocol from risk management, Morpho’s innovative architecture maximizes capital efficiency while maintaining a high standard of security. With deep integrations from top-tier institutions such as Coinbase and Apollo, and the launch of its fixed-rate product Morpho Midnight, Morpho has evolved from an on-chain lending protocol into a core settlement layer bridging traditional finance and on-chain credit — positioning it to absorb the migration of traditional private credit markets on-chain.
Institutional Lending: Bringing On-Chain Lending Services to Life
HSK Chain and Morpho will jointly build out the CeDeFi track, using on-chain lending as an entry point to explore ways of breaking down liquidity barriers between CeFi and DeFi — advancing the crypto finance ecosystem toward greater openness and efficiency.
On-Chain Staking Services: Building Institutional-Grade Yield Products
HSK Chain and Morpho will co-develop on-chain yield products centered on robust risk management, with lending business built on BTC and RWAs (real-world assets) as underlying collateral. Looking ahead, the two parties will also explore integrating Morpho’s v2 fixed-rate lending products, giving HashKey staking service users convenient access to on-chain credit.
Note: Staking refers to node validation / infrastructure services and does not constitute an investment or financial product.
Tokenization Services: Driving RWA On-Chain Adoption
HSK Chain and Morpho will work together to bring more institutional-grade assets into the Morpho protocol as qualified collateral, further expanding the range of assets available across the on-chain lending ecosystem. The two parties will draw on demand signals from HashKey’s institutional client base to jointly identify and prioritize the first batch of RWAs to be introduced.
Compliance First: Setting a New Standard for On-Chain Finance
HashKey’s group entities hold multiple digital asset service licenses across Asia, making it one of the few institutions in the Asia-Pacific region able to offer institutional-grade digital asset services within a fully compliant framework. Morpho is a leading global decentralized lending protocol that has processed billions of dollars in on-chain lending volume, known for its highly modular risk-management architecture and transparent smart-contract logic. Together, the partnership merges compliant financial infrastructure with top-tier DeFi protocol capabilities, delivering a secure, transparent, and auditable on-chain lending experience for institutional and retail users alike.
“On-chain lending is critical infrastructure connecting traditional finance with the Web3 ecosystem. Our partnership with Morpho enables us to deliver truly on-chain lending services to both institutional and retail users. HashKey remains committed to advancing the mainstream adoption of on-chain finance within a compliant framework, and this partnership marks an important step forward on that path.”
— Serena Wang, Head of HSK Eco Labs
“HashKey’s scarce regulatory licenses and deep institutional client base in Asia make it an ideal partner as Morpho expands into the region and builds a global open lending network. We will deploy our globally proven, security-focused decentralized lending infrastructure on HSK Chain, using a layered architecture to balance protocol openness with local compliance requirements. Together, we will build a safe and efficient on-chain lending service for Hong Kong and the wider Asia region, deepen our work in RWA and compliant CeDeFi, and explore further opportunities in on-chain finance.”
— Shanshan Shui, Head of Asia at Morpho
About HSK Chain
HSK Chain is an institutional-grade blockchain affiliated with HashKey (Stock Code: 3887.HK), dedicated to reshaping global financial markets on-chain. Characterized by security, and innovation, HSK Chain provides the infrastructure for next-generation on-chain finance, enabling stablecoins, RWAs (Real-World Assets), and institutional DeFi to operate collaboratively and seamlessly within a unified framework.
About Morpho
Morpho is an open credit network with over $11.0 billion in deposits, connecting global lenders and borrowers to optimal lending opportunities. Its modular, open infrastructure enables fintechs, wallets, exchanges, and institutions to seamlessly embed configurable credit products directly into their own platforms while maintaining complete control over the user experience. Leading institutions such as Coinbase, Robinhood, Bitwise Asset Management, and Société Générale have already deployed secure, scalable on-chain credit products built on Morpho. For more information, please visit Morpho.org.
Disclaimer
HSK Chain is a blockchain infrastructure network. This announcement is provided solely for informational purposes regarding the collaboration between HSK Chain and Morpho and does not constitute investment advice, an offer, solicitation, recommendation, endorsement, or guarantee of any kind. HSK Chain does not make any representation or warranty, express or implied, regarding the performance, security, availability, or regulatory status of any third-party protocol, product, or service. Participants should carefully assess all relevant risks and make their own independent decisions before engaging in any on-chain activities, DeFi, CeDeFi, RWA, or other digital asset-related activities.
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