hello,各位朋友。 一边是14部委联合发文"划红线"，严打虚拟货币交易炒作；另一边，香港HashKey交易所通过港交所审核，即将成为"亚洲加密资产第一股"，预估市值高达 200亿。 这种"冰火两重天"让很多人困惑：数字资产领域，到底该远离，还是有机会？ 关键在于，HashKey上市的核心并非鼓励炒币，而是为万亿规模的RWA（Real World Asset，真实世界资产）赛道，打开了一扇合规的大门。 01 HashKey是谁？持牌合规的"桥梁" 作为香港持牌合规的虚拟资产交易所，HashKey手握证监会第1、4、7、9类全链条金融牌照及VATP虚拟资产交易平台牌照。从仅对专业投资者开放，到拓 展至零售市场，再到如今冲刺上市，它每一步都踩在香港"强监管+稳开放"的节奏上。 不同于其他保守型平台，HashKey的定位是搭建"传统金融+Web3"的桥梁，而其核心支柱，正是RWA。 02 这一布局精准契合香港打造"国际虚拟资产枢纽"的定位。与新加坡、迪拜的全面开放不同，香港的核心优势在于"连接内地与全球"的区位价值。 通过HashKey这类持牌平台，香港有望成为内地资产出海代币化、全球RWA资产进入中国市场的重要 ...

天脉集团近日于香港国际中心举行盛大启幕仪式，宣告其全球化战略正式进入加速阶段。以「提升个体 能量、赋能企业成长、推动资产资本化」为使命，天脉同步发布三大国际化布局：跨境上市孵化体系、 RWA 科技生态，以及身心能量科学的国际化升级，构建横跨科技、产业与资本的新经济生态。 香港作为全球创新与资本枢纽，是天脉全球战略启动的重要节点。此次启幕不仅象征空间落成，更标志 天脉国际化布局全面展开。 跨境上市孵化中心正式发布 启幕仪式上，天脉宣布成立跨境上市孵化中心，由具备 SEC、PCAOB、FINRA 资质的专业团队领衔， 累积百家以上跨境上市项目经验，服务范围涵盖美股、港股与 SPAC。不同于传统投行与 FA，天脉提 供的是企业「资本化全链路」服务，包括红筹架构搭建、财务与审计合规、SEC 与港交所申报辅导、 IPO/SPAC 双路径设计、市值管理、企业国际化辅导与数字化升级。 原计划于大会完成 4 家企业签约，最终签约数量突破至 12 家，显示天脉于跨境上市与资本运作领域的 强大吸引力与行业影响力。 RWA（真实世界资产）正成为全球金融变革核心，从 BlackRock 推出代币化基金，到香港、新加坡将 RWA 纳入 ...

历经七届沉淀，"金中环"论坛已成为汇聚行业智慧、见证金融创新的重要平台，其评选结果基于机构业务规模、项目质量、市场影响力等多维度指标，具有 广泛公信力。当前，香港国际金融中心地位不断提升，2025年公布的《全球金融中心指数》排名中，香港继续位列亚太区第一、全球第三。今年以来，香港 金融市场表现亮眼，新股集资(IPO)总额已突破2500亿港元，位居全球首位，国际长线资金参与度明显增加。港股气氛畅旺，恒生指数今年来累计上升约 30%;交投创历史新高。香港与内地金融互联互通持续深化，跨境金融枢纽优势进一步凸显，为2026年市场稳健发展注入强劲信心。 论坛现场行业大咖齐聚献策。建银国际首席经济学家赵文利博士发表"2026年香港股票市场投资展望"主题演讲，从宏观格局、行业机遇等维度，为投资者解 析港股布局逻辑，提供重要参考。核心圆桌对话环节聚焦"宏观博弈下的跨境布局与资产配置实践"，圆桌现场邀请到三位业界精英：天风国际资产管理部基 金经理-刘深、恒生投资管理有限公司ETF销售主管-凌子敬、淞港国际证券集团有限公司固定收益部董事总经理-张璇，围绕弱美元强股市行情持续性、日股 欧股投资机遇、南向ETF通热潮、境外债到期挑战 ...

今早看到睿盛官方发了新的长周期产品公告，群里又热闹起来了，不少新进来的朋友在问"稳不 稳"、"锁这么久安不安全"。看着这些问题，我突然有点恍惚，感觉像是看到了几年前的自己。 我是睿盛最早那批核心社区的用户了。说实话，刚接触睿盛的时候，我也只是抱着"试一试"的心态。那 时候他们刚开始推一些早期的收益模型，我也怕，只敢拿了一点点闲钱去"测盘"。 所以，这次看到他们推这个新的长周期产品，强调"趋势"和"价值沉淀"，我几乎没怎么犹豫就上了车。 对新朋友来说，可能觉得锁仓很难熬。但对我这种跟了他们好几年的老用户来说，这反而是最舒服的状 态。因为我知道这些钱去了哪里——去了全球的主权债，去了硬核的基础设施。这些资产本身就需要时 间去发酵价值。 我在的老群，现在氛围真的很好。以前大家还会在群里问"提现到账了吗"，现在大家聊的都是"这期额 度还剩多少"、"美联储降息对咱们的底层资产有什么利好"。 这种信任感不是一天建立起来的。记得有一次市场大跌，外面好多平台都因为流动性枯竭关停了提现， 搞得我当时心里也慌得一批，赶紧去试着赎回睿盛里的一笔到期资金。结果呢？依然是秒处理，依然是 准时到账。 那一刻我就知道，这帮人是想做长久生意 ...

Core Viewpoint - The People's Bank of China emphasizes the need to combat virtual currency speculation and illegal financial activities, highlighting the evolving risks and challenges in risk prevention [1][2]. Group 1: Current Situation and Challenges - Recent factors have led to a resurgence in virtual currency speculation and related illegal activities, posing new challenges for risk prevention [2]. - The rise of stablecoins and the use of social media for promoting foreign virtual currency exchanges have increased the complexity of monitoring and regulation [2][3]. - Criminal activities have shifted from issuing new virtual currencies to utilizing stablecoins and real-world asset projects, complicating enforcement efforts [3]. Group 2: Regulatory Stance - The meeting reiterated that virtual currencies do not hold the same legal status as fiat currencies and should not circulate as money, categorizing related activities as illegal financial operations [4]. - The Chinese government maintains a clear stance against virtual asset trading, with regulations targeting foreign exchanges providing services to domestic residents [5]. Group 3: Future Actions - The meeting called for continued adherence to prohibitive policies on virtual currencies, emphasizing the importance of risk prevention as a permanent theme in financial work [5]. - Enhanced collaboration among regulatory bodies is necessary to improve monitoring capabilities and protect public financial security [5].

Core Insights - The issuance of Hong Kong's HKD 10 billion multi-currency digital green bonds is a significant step towards mainstream adoption of Real World Assets (RWA) through blockchain technology [3][4] - The bond issuance was oversubscribed by more than 13 times, totaling over HKD 130 billion, and introduced innovative features such as tokenized central bank currency settlements [3][4] - The project aims to enhance liquidity and reduce investment barriers, allowing fractional ownership of assets like real estate and art, thus democratizing access to investment opportunities [4][7] Summary by Sections Bond Issuance Details - Issued amount: Approximately HKD 10 billion equivalent [4] - Currencies involved: HKD, RMB, USD, EUR [4] - Ratings: AA-/Aa3/AA+ (Fitch/Moody's/S&P) [4] - Settlement cycle: T+1 [4] - Purpose: Financing and refinancing projects under the Hong Kong government's Green Bond Framework [4] Technological Integration - The bonds were issued directly on the HSBC Orion platform, bypassing traditional custodial processes [3][4] - The integration of the CMU system with distributed ledger technology represents a seamless connection between traditional finance and blockchain [5][7] Market Impact and Future Outlook - The initiative addresses traditional asset liquidity issues and lowers investment thresholds from millions to thousands [4][7] - The transformation of RWAs is accelerating, with HSBC supporting the implementation of tokenized fiat currency settlements [5] - The vision of 24/7 global asset circulation is becoming more attainable, with the potential for urban green projects and collectibles to be traded in fractionalized formats [7]

Core Insights - The RWA Global Investment Banking Alliance held a successful salon in Shanghai, focusing on "linking traditional finance and empowering the real economy," marking a new phase of high-quality development for the RWA industry in Asia [1][15]. Group 1: RWA's Mission and Global Evolution - RWA is positioned as a key engine for the digital transformation of global capital markets, emphasizing efficiency, transparency, and the reconstruction of trust systems [2][4]. - The core mission of RWA is to ensure that real-world assets are visible, verified, and trusted, promoting institutional construction and international collaboration [2][4]. Group 2: Strategic Initiatives - The alliance announced four core strategic layouts: capital, education, publishing, and global nodes, aimed at institutionalizing and internationalizing the RWA industry [5][6]. - The RWA education platform will develop a systematic curriculum to cultivate finance and technology professionals with a global perspective [6][14]. Group 3: Publications and Educational Programs - The launch of the book "On-Chain Future: RWA Reshaping Global Wealth" was announced, which aims to present the theoretical foundation, international trends, and practical cases of RWA [12][14]. - A global digital asset leadership course will be held in Singapore, focusing on stablecoin mechanisms, asset standardization, and cross-border compliance [14]. Group 4: Shanghai's Role in RWA Innovation - Shanghai is recognized as a strategic hub for RWA innovation and financial digital transformation, supported by its robust financial infrastructure and favorable policy environment [15][17]. - The alliance aims to deepen cooperation with local universities and research institutions to explore RWA standardization and industrialization paths [17][18]. Group 5: Vision and Future Directions - The successful salon in Shanghai signifies a milestone in the alliance's international layout, forming a multi-center collaborative network to promote the global RWA ecosystem [17][19]. - The vision is to create a sustainable, transparent, and open global trust network, enabling assets to be understood, verified, and empowered on-chain [19][20].

Core Insights - WLTH is breaking down barriers for ordinary investors to access pre-IPO private companies valued in billions, previously limited to accredited investors [3][4] - The platform has over 73,000 registered users and connects them to a global network of opportunities, including over 600 unicorn companies [5][14] WLTH Overview - WLTH is a network that connects high-quality real-world assets with the crypto world, providing pre-IPO investment opportunities to retail users [4] - The platform allows investments starting from as low as $20, transforming pre-IPO shares valued between $5 million and $50 million into tradable "slices" on-chain [6] WLTH Network and User Base - WLTH has established a global RWA network with over 73,000 registered investors and partnerships with top institutions like Nasdaq Private Market, reaching over 600 unicorns across various sectors [5][14] - The cumulative trading volume in the secondary market from these partnerships exceeds $60 billion [5] Investment Platform Features - The WLTH investment platform is the first to offer pre-IPO investment opportunities to retail users, with each investment share backed 1:1 by real equity [6] - The platform employs AI-driven investment strategies to help users achieve risk diversification and long-term returns [7][13] WLTH Token and Ecosystem - The $WLTH token is central to the RWA network, providing access, participation, revenue, scarcity, yield, and growth within the ecosystem [8][9] - A fee and burn mechanism is in place, where 10% of profits from transactions are used to buy back and burn WLTH tokens, enhancing their long-term value [10] Economic Model and Incentives - Users can stake WLTH to enjoy lower transaction fees and gain access to exclusive investment opportunities, creating a positive feedback loop of participation and rewards [11] - The "Earn-to-Own" model allows users to gradually acquire real pre-IPO equity through platform activities without large capital investments [12] Market Potential and Future Vision - WLTH connects to a secondary market of over 600 unicorns with a total valuation exceeding $50 billion, creating a low-barrier entry for pre-IPO investments [14][15] - By 2025, WLTH aims to upgrade to a comprehensive investment platform engine, integrating pre-IPO investments, secondary market liquidity, and AI strategies [16] - The long-term vision for WLTH is to become a "mini JPMorgan" in the crypto world, providing a single app for users to discover, invest, manage, and grow their wealth globally [17][18]

Group 1 - The Federal Reserve announced a 25 basis point cut in the federal funds rate target range to 4.00%-4.25% on September 17, marking its first rate cut of the year, but concerns over liquidity in the market remain high [2] - The trading volume of September federal funds futures contracts approached 500,000, setting a record since the product was listed in 1988, indicating deep market worries about the deteriorating short-term financing environment at quarter-end [2] - Factors such as the Fed's ongoing balance sheet reduction and a 32% increase in U.S. Treasury issuance since July have exacerbated funding gap risks, leading to a surge in demand for liquidity management across asset classes [2] Group 2 - Hong Kong's crypto market is emerging as a core area for the development of Real World Assets (RWA), characterized by a complete ecosystem involving liquidity providers, technology supporters, and service providers [3] - Collaborations such as HashKey Exchange with GF Token and OSL Exchange with Huaxia Fund are expanding the audience for RWA from institutions to retail investors, showcasing the market's growth potential [3] - The integration of digital asset wallets as a key entry point for users enhances asset flow efficiency and security, contributing to the compliance process in Hong Kong's crypto market [3] Group 3 - Hong Kong's innovative regulatory measures in the crypto space are providing a replicable model globally, with the introduction of the first comprehensive regulatory framework for fiat-backed stablecoins and differentiated capital requirements for various crypto assets [5] - The balance between innovation and risk control in Hong Kong's regulatory approach resonates with the Federal Reserve's policy logic of stabilizing growth while managing risks [5] Group 4 - The Fed's rate cut has lowered dollar financing costs, leading to a 15% quarter-on-quarter increase in RWA project financing in Hong Kong's crypto market [6] - XBIT Wallet has optimized its services during this period, integrating compliance project information and real-time valuation data in its RWA asset section, enhancing user opportunities [6] - The user asset custody scale of XBIT Wallet increased by 21% quarter-on-quarter, with RWA-related asset holdings rising to 35%, reflecting a significant uptick in investor demand for compliant crypto assets [6]

Core Viewpoint - Huajian Medical (01931) has announced a strategic upgrade, including the establishment of two joint ventures with ETHK Group and a name change to reflect its transformation into a digital industry innovator [1][4][5]. Group 1: Strategic Transformation - The company has formed joint ventures, ETHK Inc and ETHK HOLDINGS LIMITED, to enhance its global blockchain financial ecosystem [5]. - ETHK Inc will focus on developing a decentralized financial platform under the "ETHK" brand, while ETHK HOLDINGS LIMITED will serve as a digital industry investment and acquisition hub [5]. - The company will change its name from "IVD Medical Holding Limited" to "ETHK Labs Inc." and its Chinese name to "华检数字产业集团有限公司" [4][5]. Group 2: Blockchain Financial Ecosystem - The "ETHK" brand name combines "Ether" and "Kingdom," symbolizing a decentralized financial ecosystem that aligns with blockchain technology [9]. - ETHK Labs will be the core institution for advanced technology research and ecosystem empowerment within the ETHK framework [9]. - The company aims to redefine global asset circulation and value exchange through a next-generation blockchain financial ecosystem [9]. Group 3: RWA Market Opportunity - The transformation aligns with the explosive growth of the Real World Asset (RWA) market, which saw a total locked value (TVL) of $12.5 billion as of June 2025, a 124% increase from 2024 [10]. - The RWA market surged from $8.6 billion to over $23 billion in the first half of 2025, marking a growth of over 260% [11]. - By establishing joint ventures and rebranding, the company positions itself to lead the global RWA infrastructure development [11]. Group 4: Value Reconstruction - The strategic upgrade aims to enhance China's global digital financial influence by facilitating the "on-chain" movement of quality Chinese assets [12]. - The blockchain financial model promotes transparency and efficiency, addressing financing challenges for enterprises and supporting global asset integration [13]. - The transformation signifies a shift in valuation logic from traditional earnings-based models to revenue-based models, reflecting the company's new focus on digital infrastructure [13].