万亿资产上链革命：稳定币×RWA×DeFi重构B端融资新生态

Core Insights - The global regulatory framework for crypto assets is rapidly evolving, with significant developments such as the EU's MiCA regulation, the US GENIUS Act, and Hong Kong's Ensemble project sandbox, indicating a strategic competition for digital financial sovereignty [1] - The "stablecoin + RWA + DeFi" model is disrupting traditional financial infrastructure, serving as a key driver for attracting trillions of dollars in assets on-chain [1] - The total value locked (TVL) in the RWA sector has reached a new high of $12.863 billion, but this remains small compared to the global $800 trillion in real assets, highlighting a bottleneck due to the lack of stablecoins [1] Group 1 - The revolution in finance directly addresses three major pain points for SMEs: difficulty in accessing global funds, challenges in pricing non-standard assets, and high costs of cross-border settlements [1] - Stablecoins provide a core value scale and medium of circulation for the RWA system, enabling the tokenization of private credit and government bonds, which currently dominate 92% of the RWA market [1] - The asset tokenization revolution is at a critical point, with BlackRock's BUIDL government bond fund enabling 24/7 income-generating asset trading, and Longxin Group tokenizing charging pile revenue rights to open new financing channels for asset-light operators [1][2] Group 2 - The efficiency revolution driven by "stablecoin-RWA-DeFi" is systematically addressing the liquidity challenges of non-standard assets for SMEs, high costs of cross-border settlements, and high technical compliance barriers [2] - Traditional finance's low collateral rates for assets like charging pile revenue rights are being disrupted by compliant tokenization, which offers a 33% premium rate [2] - Cross-border payments are transitioning from 3-5 days for settlement with friction costs exceeding 4% to instant T+0 clearing with only 0.5% costs through smart contracts [2][3]