USDT, STO, and RWA: When Traditional Finance Strikes, How Do Conventional and Blockchain Finance Meet?
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In June this year, the Financial Supervisory Commission announced a collaboration with insurance companies and six financial institutions, including Taishin Bank, Taipei Fubon Bank, Cathay United Bank, Cathay Securities, Cathay Investment Trust, and Yuanta Financial Holding to establish a 'Real World Assets (RWA) Tokenization Task Force'.
This team behind the scenes is significant, making RWA (Real World Assets) one of the hottest topics in Taiwan's fintech field recently. RWA (Real World Assets) includes financial assets such as stocks and bonds, physical assets like real estate and precious metals, and even intangible assets like carbon credits. RWA tokenization involves utilizing blockchain, cryptography, or smart contracts to transform real-world assets into digital tokens for subsequent trading or service provision.
(Web3 Westward Journey) launches a new series titled [Understanding Real World Assets RWA through Tokenized Gold], starting with the origin of RWA and discussing the trend of traditional financial 'regular troops' participating in RWA.
XREX co-founder and CEO Wayne Huang believes that 'US dollar stablecoins' are one of the most successful applications of blockchain technology. Since stablecoin values are pegged 1:1 to the dollar, they can be considered the pioneers of RWA.
The success of today's US dollar stablecoins is due to solving issues like dollar scarcity and transaction efficiency in traditional finance, creating a 'ten times better user experience' than existing solutions. XREX co-founder and group revenue head Winston Hsiao believes that traditional finance is now entering the RWA space because of the success seen with US dollar stablecoins and the blockchain technology behind them, aiming to further explore and find suitable development opportunities.
In this episode, Wayne also further shared the two key factors for successful tokenization: one is 'public chains', and the other is 'global liquidity'. Winston also brought more imagination, citing the once-popular NFTs (non-fungible tokens), which may provide more possibilities for RWA. Have you ever thought that one day your stocks, insurance, and collateral assets might also be related to NFTs?
Web3 Westward Journey
Hosted by XREX exchange co-founders Wayne Huang and Winston Hsiao, along with senior director of corporate communication at XREX, Yoyo Yu, this series helps you understand the concepts of decentralization and explore the Web3 world from various perspectives.
Episode Summary
The Financial Supervisory Commission established the 'Real World Assets Tokenization Task Force'. What advantages does traditional finance have in entering the RWA space?
For RWA-related applications to succeed, a 'ten times better' user experience is key.
Two Key Factors for Successful Tokenization: 'Public Chain' and 'Global Liquidity'
What Secrets Helped RWA Pioneers Achieve Success in Stablecoins?
What Competitions and Challenges Are There Between 'New Financial Institutions' and 'Traditional Finance' on the RWA Journey?
Is There a Possibility of Combining RWA with NFTs?
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Music Credits
MusicbyAden - Earth
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This segment is a collaboration between XREX and (WEB3+)
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