Hua Er Jie Jian Wen·2025-07-18 07:32Group 1 - The core concept of Real World Assets (RWA) is the tokenization of physical assets through blockchain technology, enabling their trading, fractionalization, and liquidity [2][3] - The global RWA market is projected to reach $16 trillion by 2030, indicating a significant shift in asset allocation for investors [1][11] - RWA can transform traditionally illiquid assets into easily tradable digital tokens, lowering investment barriers and providing stable returns linked to real-world economies [9][12] Group 2 - As of June 2025, the total global RWA asset value, excluding stablecoins, is expected to reach $25.5 billion, with private credit, U.S. Treasury bonds, and commodities being the dominant sectors [6][8] - The largest single RWA project is BlackRock's BUIDL, with a market value exceeding $2.8 billion [8] - RWA projects are primarily issued on Ethereum, which holds a market share of 58.2% [11] Group 3 - The development of RWA has evolved through several phases: conceptual exploration (2016-2018), infrastructure building (2019-2021), financial institution involvement (2022-2023), and application expansion (2024-present) [12][13][16] - The tokenization of various asset classes, including real estate and energy, is gaining traction, with platforms like RealT allowing investments starting from $50 [16][23] Group 4 - In China, particularly Hong Kong, RWA development is driven by policy and industry applications, with a focus on green assets and technology [19][20] - The Hong Kong Monetary Authority has established a regulatory framework to support RWA projects, including the introduction of stablecoin regulations [19] Group 5 - Emerging sectors such as AI computing power, carbon assets, and agricultural assets are exploring RWA pathways, indicating significant future potential [18][23] - The integration of decentralized identity systems and new token standards is essential for the compliance and infrastructure of the RWA ecosystem [25][28]