Hong Kong RWA Market Outlook: Compliance and Innovation Go Hand in Hand, Exploring New Models of Stock-Coin Linkage
With the multipolar development of the international situation, digital currency and its relevance to the physical world have become increasingly prominent, and the RWA (Real World Assets) track has become the focus of attention. As the financial center of Asia, Hong Kong's future trend of the RWA market has attracted much attention.
According to analysis, the future strategy of Hong Kong's RWA market can be summarized as "licensed compliance to the right, retail tokens to the left, and stock-coin product linkage". In terms of licensed compliance, Hong Kong relies on licensed exchanges, and the tokenization of financial products will focus on debt or equity design, facing the institutional market (2B), with a moderate issuance scale but weak liquidity. This will be a relatively conservative path, closely linked to traditional financial institutions and regulatory models.
At the same time, RWAs that are not licensed and compliant will rely on offshore RWA exchanges or alternative investment platforms, tokenize physical assets, avoid traditional securities supervision, and focus on the retail market (2C retail investors). This model will have a flexible issuance scale, pursue liquidity, and represent the attributes of retail investment.
The key challenge is how to achieve the transition from the 2B market to the 2C market. This is not only a technical issue, but also involves whether traditional financial institutions and interest groups are willing to redistribute power and interests.
In terms of product design, RWA can have more room for innovation. For example, innovative designs can be made in OTC or ATS, similar to the GameFi model. Tokenizing securities products may lack liquidity, so liquidity incentives can be performed in vitro.
In addition, RWA may also explore the stock-to-coin linkage model in the future, that is, the stocks of listed companies are linked with virtual assets, and the value of stocks of listed companies in the real world will be driven through investment allocation and Web3 layout.
The future of RWA tokenization is full of infinite possibilities, not limited to the several models currently discussed. With the maturity of the market and the advancement of innovation, RWA is expected to become the next hot track with sustainability and long cycles.
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