Core Viewpoint - Ant Group is initiating a significant experiment to tokenize China's energy infrastructure valued at 60 billion RMB (approximately 8.4 billion USD) on its proprietary blockchain network, marking a milestone in the tokenization of real-world assets (RWA) and showcasing the potential of integrating traditional industries with digital finance [1]. Group 1: Project Overview - The project is spearheaded by Ant Digital Technologies, a subsidiary of Ant Group, which is utilizing its AntChain platform to connect and monitor renewable energy assets across China, including around 15 million renewable energy devices [4]. - The data collected from these devices, such as power generation and operational status, is recorded on the blockchain, ensuring immutability and transparency, which lays a solid foundation for the subsequent tokenization of these assets [4]. Group 2: Financial Achievements - Ant Digital Technologies has successfully implemented this model in practice, raising approximately 300 million RMB (around 42 million USD) through three clean energy projects [6]. - In August 2023, the company assisted Longshine Technology Group in tokenizing over 9,000 charging stations, securing 100 million RMB (about 14 million USD) in financing from an overseas bank [6]. - In December 2023, Ant Digital helped GCL Energy Technology tokenize its photovoltaic assets, raising an additional 200 million RMB (approximately 28 million USD) from foreign investors, demonstrating the commercial viability of this model [6]. Group 3: Future Aspirations - Ant Group aims to list these energy tokens on decentralized exchanges (DEX) abroad, creating a global, liquid secondary market for investors to easily access China's green energy sector [6]. - The long-term vision includes expanding financing channels and enhancing asset value through this global market access [6]. Group 4: Challenges and Regulatory Landscape - The project faces significant challenges, particularly regarding regulatory approval for listing tokens on foreign exchanges, given China's cautious stance on cryptocurrencies and capital flows [7]. - Experts suggest that even if the tokens are successfully issued, the initial market may be dominated by institutional and professional investors rather than retail participants, alongside liquidity issues commonly faced by RWA projects [7]. Group 5: Broader Strategic Initiatives - Ant Group is pursuing a dual strategy in the Web3 ecosystem, including plans to issue stablecoins, which can facilitate RWA transactions and settlements, creating a cohesive digital financial ecosystem [9]. - The company is also aligned with the strategic direction of Yunfeng Financial, co-founded by Jack Ma, which is actively exploring RWA applications and has invested in Ethereum (ETH) as a strategic reserve [9]. Group 6: Conclusion - Ant Group's initiative to tokenize 60 billion RMB of energy assets represents one of the most ambitious attempts globally to integrate industrial assets with blockchain technology, providing a visionary model for leveraging technology to revitalize traditional assets and empower green finance [9][10]. - The ongoing developments are expected to have profound implications for the global financial and energy sectors [10].

Group 1 - The core viewpoint of the article is that New World Development is advancing its strategic layout in the application of Real World Asset (RWA) tokenization technology [1] - On August 29, New World Development announced the establishment of a Digital Asset Research Institute in Hong Kong to oversee key initiatives related to RWA tokenization [1] - The company aims to leverage its existing business accumulation alongside RWA tokenization technology to enhance its operational capabilities [1]

目前相关的RWA研究尚处于前期阶段，董事会亦会密切监察RWA的研究进度，并将根据上市规则适时 另行刊发公告。 智通财经APP讯，新城发展(01030)公布，公司将结合现有业务积累与真实世界资产(RWA)代币化技术， 推动相关RWA应用的战略布局。于2025年8月29日，新城发展数字资产研究院将在香港正式成立，该研 究院设立旨在统筹推进集团RWA代币化等关键工作。 公告称，该集团历经32年发展，资本积累深厚，并在RWA领域初步探索。公司响应香港特别行政区政 府《香港数字资产发展政策宣言2.0》所倡导创新方向，积极开拓新机遇，在相关监管框架前提下，探 索集团优质IP资源和资产收益代币化RWA及相关应用的可行性。为满足跨领域专业要求，公司将引进 区块链、数字金融和合规领域外部专家以弥补特定领域经验，包括相关法律顾问全面评估RWA的境内 外法律问题，相关专业顾问评估财务、税务问题，相关技术供应商优化技术方案，并积极与监管机构保 持沟通。 ...

Market Activity - Ethereum (ETH) shows strong market vitality with significant on-chain transactions and institutional investors increasing their holdings [1][2] - A dormant Ethereum ICO participant recently made a small test transaction, achieving a return on investment of 15,484 times, highlighting Ethereum's long-term value potential [2] - In the past two days, five new wallet addresses purchased a total of 19,332 ETH, valued at approximately $92 million, indicating new capital entering the market [2] - Bitmine invested $45 million to acquire 9,613 ETH, raising its total holdings to $7 billion, reflecting institutional confidence in Ethereum's long-term value [2] Ecosystem Development - The acquisition of Stargate by LayerZero, valued at $110 million, received 95% community support, enhancing cross-chain liquidity infrastructure [3] - The Ethereum Foundation is advancing its "trillion-dollar security" initiative, focusing on improving wallet user experience and security standards [3] - The initiative aims to address common risks like blind signing and promote wallet security standards, paving the way for broader adoption [3] Regulatory Environment - BlackRock's BUIDL fund has grown to $2.387 billion, with 88 institutional investors, indicating traditional financial giants' deep involvement in the RWA (real-world asset) tokenization space [5] - The evolving tax policy environment for cryptocurrencies in the U.S. is a significant factor affecting market dynamics, with 62% of Americans expecting rising unemployment rates, which may influence Federal Reserve monetary policy [6] Security Challenges - A recent Bitcoin scam in the UK, involving $2.8 million, underscores the importance of asset security and the risks associated with sharing recovery phrases [8] - Decentralized exchanges like XBIT.Exchange offer a solution by allowing users to maintain control over their assets through smart contracts, avoiding reliance on central servers [8] - XBIT's architecture mitigates common risks associated with centralized exchanges, ensuring transparent and immutable transaction records while reducing trading costs [8][9] User Empowerment - The value of decentralized trading platforms is increasingly recognized by users, providing a trustless, user-driven trading experience [9] - Users can enjoy the transparency and security of blockchain technology while maintaining complete control over their assets in any market environment [9]

Group 1: Core Insights - The global stablecoin market has experienced explosive growth, with a total market value exceeding $250 billion by July 2025, dominated by USD-pegged stablecoins like Tether (USDT) and USD Coin (USDC), which account for over 95% of the market share [1] - Hong Kong's government initiated a public consultation on a stablecoin regulatory framework in December 2023 to enhance its position as a financial hub and explore the potential of stablecoins [1] - The Hong Kong Legislative Council passed the Stablecoin Ordinance in May 2025, which will come into effect on August 1, 2025, integrating stablecoins into a comprehensive financial regulatory system [1][2] Group 2: Regulatory Framework - The Hong Kong Monetary Authority (HKMA) released guidelines for licensed stablecoin issuers on July 29, 2025, focusing on compliance requirements to maintain financial stability and prevent money laundering risks [1][2] - The Stablecoin Ordinance defines stablecoins as digital assets based on distributed ledger technology, pegged to a single or basket of assets, and recognized as a medium of exchange [2][3] - The regulatory framework aims to balance financial innovation with systemic risk, requiring stablecoin issuers to establish a physical presence in Hong Kong and maintain high liquidity reserves [12][13] Group 3: Market Dynamics - The application scenarios for stablecoins have expanded from being mere trading tools in cryptocurrency markets to becoming core assets in decentralized finance (DeFi), tokenization of real-world assets (RWA), and cross-border payments [2][5] - The transition from purely algorithmic stablecoins to hybrid collateralized models reflects the need for stability and risk management in the market, as seen with the collapse of UST/LUNA [5][11] - Stablecoins are increasingly integrated into traditional financial systems, providing liquidity and low transaction costs, especially in emerging markets facing currency devaluation [5][11] Group 4: Compliance and Anti-Money Laundering (AML) Measures - The guidelines for licensed stablecoin issuers include comprehensive AML/CFT frameworks, emphasizing risk assessment, customer due diligence, and transaction monitoring [13][20] - The guidelines require issuers to implement technology solutions for monitoring blockchain transactions and ensuring compliance with the Travel Rule for transparency in transfers [16][17] - Independent audits and assessments are encouraged to enhance compliance capabilities and market competitiveness for stablecoin issuers [19][20]

Group 1 - Derlin Holdings (01709.HK) announced a subscription agreement with Asseto Holdings Limited to acquire 77,350 A-class ordinary shares for a total subscription price of $1.2903 million, representing approximately 3.23% of Asseto's enlarged issued share capital post-transaction [1] - Asseto is a leading fintech company in the Asian tokenization market, focusing on the tokenization of real-world assets (RWA) and integrating traditional finance (TradFi) with decentralized finance (DeFi) [2] - Asseto aims to diversify its revenue sources and scale its operations by expanding its product line beyond cash management RWA to include funds, bonds, stocks, private credit, real estate, and various alternative assets [2] Group 2 - Asseto has established a strong strategic industry partnership network, including two companies preparing to apply for a stablecoin license in Hong Kong [2] - The company boasts a top-tier, experienced, and diverse team with expertise in both TradFi and DeFi, coming from leading traditional financial institutions and Web3 projects [2] - With the ongoing trend of stablecoin applications, Asseto's total value locked (TVL) is expected to continue growing, positioning it as a leading Web3 enterprise in Asia [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 1 認購事項須待認購協議項下條件獲達成後，方告完成。 於本公告日期，概無認 購協議項下條件已獲達成。 有關ASSETO的資料 Asseto是一家專注於真實世界資產（「RWA」）代幣化的金融科技公司，目前在 亞洲代幣化市場中處於領先地位，其致力於透過機構級代幣化技術及傳統金 融（「 TradFi 」）與去中心化金融（「 DeFi 」）的深度融合，打造新一代鏈上資產 平台。Asseto以現金管理類RWA為切入點，持續拓展至更廣泛的產品線，包括 基金、債券、股票、私募信貸、房地產及各類另類資產等，以實現收入來源的 多樣化與規模化。作為HashKey集團的戰略合作夥伴，Asseto已建立強大的戰 略行業合作網絡，包括兩家準備遞交香港穩定幣牌照申請的企業。Asseto擁有 一支頂尖、經驗豐富且多元化的團隊，核心成員來自全球領先的傳統金融機 構及Web3項目，兼具TradFi與DeFi的專長。隨著穩定幣應用趨勢的 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 DL HOLDINGS GROUP LIMITED 德林控股集團有限公司 （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號：1709） 自願性公告 與ASSETO FINTECH LIMITED 戰略合作之諒解備忘錄 戰略合作諒解備忘錄 本公司董事（「董事」）會（「董事會」）欣然宣佈，於2025年6月30日，本公司與 Asseto Fintech Limited（「Asseto」）訂立一份戰略合作（「戰略合作」）諒解備忘 錄（「諒解備忘錄」）。本集團將與Asseto建立戰略合作夥伴關係，攜手在亞洲市 場共同探索並開發真實世界資產（「RWA」）的代幣化解決方案，並推動採納合 規數字資產產品與服務，包括穩定幣應用及去中心化金融（「DeFi」）整合。 1 訂約方擬在以下關鍵領域展開合作： 諒解備忘錄項下擬進行的交易為訂約方就擬議戰略合作達成的初步共識，仍 需由訂約方進一步協商並簽立 ...

Core Insights - The Hong Kong Securities and Futures Commission (SFC) has approved 40 financial institutions to upgrade their existing Type 1 securities trading licenses to provide virtual asset trading services, indicating a growing regulatory framework that attracts traditional financial players [1][2] - Guotai Junan International has become the first Chinese broker in Hong Kong to obtain a comprehensive license for virtual asset trading services, following Tianfeng International's earlier approval [1][3] - Major Chinese securities firms, including CITIC Securities, Huatai Securities, and招商证券, are actively pursuing license upgrades to engage in virtual asset trading [2][4] Group 1: License Upgrades and Participants - As of June 24, 40 financial institutions have successfully upgraded their Type 1 securities trading licenses to offer virtual asset trading services, including 38 brokers, 1 bank, and 1 internet company [1] - Guotai Junan International is the first Chinese broker to receive approval for a comprehensive virtual asset trading license, enhancing its service capabilities [1][3] - Other participants in the license upgrade process include Tianfeng International, Hafu Securities, Futu Securities, and others [3] Group 2: Business Model Transformation - The acquisition of virtual asset trading licenses is fundamentally changing the valuation logic, income structure, and business models of brokers, opening up significant growth opportunities [5][7] - Brokers can now tap into high-value revenue sources through virtual asset trading commissions, cross-border stablecoin clearing, and structured derivative products [7][8] - The virtual asset trading business model allows brokers to engage in various activities, including brokerage services, asset management, investment banking, and equity investments in key companies within the virtual asset ecosystem [7][8] Group 3: Regulatory Framework and Unique Ecosystem - The SFC regulates virtual asset activities, while the Hong Kong Monetary Authority (HKMA) oversees areas involving currency payments, such as stablecoins [4] - The SFC follows a "same business, same risk, same regulation" principle, adding virtual asset business conditions and technical specifications to traditional financial licenses [4] - Key license types include the upgraded Type 4 license for virtual asset investment advisory, Type 7 for automated trading services, and Type 9 for managing funds with over 10% in virtual assets [4]