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Morpho taps HSK Chain for its first Hong Kong onchain credit partner

The DeFi lending protocol said the deployment on HashKey's HSK Chain will make it the network's official onchain credit partner, with plans for regulated credit products for institutional and retail users.

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Morpho, a DeFi lending protocol with about $7.6 billion in total value locked, will complete a full deployment on HashKey's HSK Chain and become the chain's official onchain credit partner, HashKey said in a post on X Tuesday.

The partners said the deal gives Morpho its first anchor in Hong Kong, a jurisdiction that runs a licensed regime for virtual asset trading. HashKey, the licensed Hong Kong crypto group behind the chain, will use Morpho's lending system to build regulated onchain credit products and deepen access to institutional-grade assets as eligible collateral.

Morpho and HashKey said they will develop onchain credit products for both institutional and retail users, and they plan to explore CeDeFi and yield products backed by Bitcoin and real-world asset collateral. They also described a structure that keeps Morpho's base contracts permissionless while shifting compliance controls to the edges through licensed operators.

HashKey Group said the arrangement is meant to accelerate adoption of open, efficient on-chain financial services in Asia. Around the announcement, Morpho was up 0.7% over the prior 24 hours while HSK was down 0.8%, trailing Bitcoin's 1.3% gain, according to CoinGecko.

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