美元霸权能稳坐多年，SWIFT与CHIPS两大系统功不可没，它们长期垄断全球跨境支付，各国资金流动 基本都得受制于人。 人民币要想逆袭，第一步就得打破这种垄断，而数字人民币（e-CNY）的出现，正好搭建起了一条自主 可控的全球价值传输新通道。 很多人觉得数字人民币只是更快的支付工具，其实不然，它的核心优势在于可控、可编程、可组合，这 是美元体系根本做不到的。 文 | 古书奇谭 编辑 | 古书奇谭 过去美元一家独大，各国贸易、资本流动都得看其脸色，不少国家还频频遭遇收割，如今人民币十年磨 一剑，三大核心布局落地，不仅让全球资本纷纷涌入中国，更让去美元化从口号变成实景。 这三大杀招究竟是什么？又为何能撼动美元霸权？ 目前支撑数字人民币跨境支付的CIPS系统，已经覆盖了180多个国家和地区，日均处理资金规模早就突 破万亿人民币，成了连接全球贸易的重要金融桥梁。 而数字人民币本身的试点范围也扩展到了26座城市，按照规划，到2030年它的覆盖规模将达到M0的 25%，慢慢渗透到日常支付和跨境结算的各个场景。 更值得关注的是，数字人民币早就超越了普通支付工具的范畴，成了宏观经济政策落地的精准执行终 端。 借助智能合约技术 ...

Core Insights - Hong Kong and China Gas Company Limited (HKCG) has completed its first Real World Assets (RWA) tokenization project, utilizing a credit facility of HKD 100 million from its subsidiary, Mingqi Tong, supported by Chuangxing Bank and Ant Group's Jovay Layer2 blockchain technology [1] Group 1: Project Overview - The RWA tokenization project involves the tokenization of operational data and credit information, ensuring secure and reliable data flow for authorized institutions [1] - The credit facility will be used for the development of AI data centers, AI IoT, and cross-border infrastructure projects [1] Group 2: Strategic Partnerships - HKCG signed a technical service agreement with Ant Group during the 2025 Hong Kong FinTech Week, further deepening their collaboration following a memorandum of understanding signed on May 19, 2025 [1] - Ant Group's Jovay Layer2 blockchain platform is designed for high performance, security, and open connectivity, providing technical support for the financing project [1] Group 3: Future Implications - HKCG's CFO, Yang Leiming, stated that the RWA tokenization project lays the foundation for improving capital allocation efficiency and provides innovative financing channels for business expansion [1] - The company anticipates that digital asset innovations, including RWA tokenization, will scale and normalize as blockchain infrastructure and regulations improve in the region, enhancing the efficiency of digital finance and the real economy in Hong Kong [1]

Core Insights - The article emphasizes the integration of blockchain technology with Real World Assets (RWA) to enhance asset liquidity and lower investment barriers, enabling assets like real estate and precious metals to be tokenized and traded on blockchain platforms [1][2]. RWA Tokenization Overview - RWA tokenization involves converting real-world assets into digital tokens that can be traded on blockchain networks, allowing fractional ownership and investment opportunities for ordinary users [1]. - The global RWA tokenization market is projected to reach $16 trillion by 2025, covering various sectors including real estate and commodities [2]. Technology and Mechanisms - Akashic's RWA module employs four core technologies to ensure the authenticity and traceability of RWA tokens: 1. Multi-dimensional asset verification in collaboration with reputable assessment and notarization agencies [4]. 2. On-chain storage and traceability of asset verification information to prevent fraud [4]. 3. Standardized smart contracts for easy token generation across multiple blockchain standards [5]. 4. Third-party custodial mechanisms to maintain the correlation between RWA tokens and their underlying assets [5]. Market Applications - The RWA module has been applied in various scenarios, such as: 1. A Southeast Asian developer tokenizing a $50 million commercial property into 50 million RWA tokens, allowing fractional ownership and rental income distribution [8]. 2. An international precious metals exchange tokenizing gold and silver, enabling easier trading and lower storage costs [9]. 3. A music platform tokenizing music copyrights, allowing creators to earn from both initial sales and ongoing royalties [10]. Future Directions - Akashic plans to expand RWA asset types beyond high-value assets to include accounts receivable and carbon credits [13]. - The integration of RWA tokens with DeFi protocols is anticipated, offering innovative products like RWA-backed loans and liquidity mining [13]. - Establishing a global RWA ecosystem alliance to set industry standards and create a comprehensive database for tokenizable assets [14]. Industry Impact - The RWA module aims to bridge the gap between virtual and real economies, providing tangible value to the blockchain sector [15]. - It lowers investment barriers for ordinary individuals, enabling participation in high-value asset markets [15]. - The module enhances operational efficiency in the real economy by addressing issues like information asymmetry and lengthy processes [15].

Core Viewpoint - The strategic cooperation between Shenzhen Aigo Chuangke Holdings and Shenzhen Guoying Qianfeng Investment Holdings marks a significant investment of 500 million RMB by a state-owned fund, accelerating the development of digital leasing in China, particularly in the 3C digital no-deposit leasing and RWA asset tokenization sectors [1][2]. Group 1: Investment and Financial Support - Guoying Qianfeng will invest 500 million RMB in the QY Rent platform over the next six months, specifically for the expansion of the 3C digital leasing business and the implementation of RWA tokenization projects [2]. - This capital injection will provide strong support for QY Rent's business expansion and facilitate breakthroughs in asset securitization, cross-border financing, and entry into the Hong Kong stock market [2][4]. Group 2: Technological and Operational Advancements - The core of the cooperation lies in integrating QY Rent's no-deposit leasing model with RWA technology, allowing assets like leasing orders and receivables to be tokenized [4]. - IoT devices will collect data in real-time, with algorithms on-chain generating immutable digital certificates, enhancing asset liquidity, transparency, and investor confidence [4]. - This represents a significant leap in the digital leasing model and a dual breakthrough in traditional asset securitization and blockchain innovation [4]. Group 3: Market Position and Competitive Advantage - QY Rent has successfully established a mature operational model for no-deposit leasing, creating a closed loop in customer acquisition, risk control, and fund recovery, giving it a first-mover advantage in the industry [7]. - With major players like JD Finance entering the 3C digital leasing market, the sector is poised for rapid growth, and QY Rent's backing from both state-owned funds and a Hong Kong-listed company further strengthens its competitive position [7][8]. Group 4: Strategic Synergy - The cooperation is not just about financial support; it represents a deep integration of capital, technology, and industry [8]. - The state-owned fund's investment enhances QY Rent's financing capabilities, while Aigo Group contributes blockchain and tokenization development expertise [8]. - As QY Rent integrates into the Hong Kong-listed company system and receives additional capital and technological support, it positions itself at the forefront of digital leasing and asset tokenization [8][10].

Core Viewpoint - ALCO HOLDINGS has signed a memorandum of understanding with Shenzhen Guoying Qianfeng Investment Holdings to collaborate on real-world assets and blockchain technology, aiming to enhance its 3C digital product leasing business and explore innovative financing models in the international capital market [1] Group 1: Strategic Collaboration - The memorandum outlines a strategic partnership to promote the leasing business and pilot asset tokenization, as well as to explore asset securitization and innovative financing models [1] - The collaboration will strengthen brand cooperation in areas such as the application of RWA tokenization and the development of digital leasing asset products for international markets [1] Group 2: Market Potential - The 3C digital leasing market is in a rapid growth phase, characterized by a large market size and low penetration, indicating significant blue ocean opportunities [1] - Guoying Qianfeng's investment project employs a mature no-deposit leasing operation model, creating a closed loop in customer acquisition, risk control, and capital recovery [1] Group 3: Benefits of Tokenization - The introduction of the RWA tokenization mechanism aims to accurately map leasing assets and digital equity, enhancing asset transparency and investor confidence [1] - On-chain registration and circulation are expected to improve liquidity, providing the company with ongoing synergistic effects and opportunities for capital market value discovery [1]

Core Viewpoint - The acquisition of an 11% stake in Shenzhen Aigo Chuangke Holdings by Aigo Group's subsidiary Aigo Liko, increasing its ownership from 40% to 51%, positions Aigo Group as the largest shareholder and marks a significant step in the digital leasing industry, integrating Qingyun Rental into Aigo Group and providing new growth opportunities for the sector [1][8]. Company Overview - Aigo Group, established in 1968 and listed on the Hong Kong Stock Exchange since 1992, is a well-known consumer electronics manufacturer and brand operator with a diverse business portfolio including self-owned brands like AVITA and NEXSTGO, as well as OEM/ODM operations [8]. - The company has been transitioning from traditional hardware manufacturing to a "hardware + digital services" ecosystem, aiming to penetrate the rapidly growing digital leasing and SaaS markets [8]. Qingyun Rental's Strengths - Qingyun Rental, developed by Wuhan Qingqing Times Network Technology Co., is a leading credit-free digital leasing platform in China, offering a flexible business model that includes self-operated and managed services across various rental scenarios [9]. - The platform has achieved significant milestones, including over 10 million monthly traffic, a cumulative GMV exceeding 2 billion yuan by August 2025, and serving over 1 million customers, with more than 1,000 corporate clients [9]. Future Development Directions - Post-acquisition, Qingyun Rental plans to leverage blockchain technology to tokenize leasing orders and receivables, enhancing financing and liquidity efficiency while allowing global participation in the digital leasing market [10]. - As the first mobile leasing platform with a Hong Kong-listed company background, Qingyun Rental is set to lead in capital, compliance, branding, and internationalization, aiming to establish a new benchmark for "Chinese digital leasing" [10].

Core Viewpoint - Aigo Group has successfully acquired a 51% stake in Shenzhen Aigo Chuangke Holdings, marking a significant milestone in the domestic digital leasing industry and integrating Qingyun Rental into Aigo Group's framework [1][4]. Group 1: Aigo Group Overview - Aigo Group, established in 1968 and listed on the Hong Kong Stock Exchange since 1992, is a globally recognized consumer electronics manufacturer and brand operator [4]. - The company has been transitioning from traditional hardware manufacturing to a "hardware + digital services" ecosystem, actively engaging in the digital leasing and SaaS market [4]. Group 2: Qingyun Rental Overview - Qingyun Rental, developed by Wuhan Qingqing Times Network Technology Co., is a leading player in the domestic credit-free digital leasing sector, utilizing a combination of self-operated and managed business models [4]. - The platform has achieved significant growth, with monthly traffic exceeding 10 million and a cumulative GMV of over 2 billion yuan by August 2025 [5]. Group 3: Future Plans and Innovations - Post-acquisition, Qingyun Rental plans to leverage blockchain technology to tokenize leasing orders and receivables, enhancing financing and circulation efficiency [5]. - The company aims to become the first mobile leasing platform with a Hong Kong-listed company background, positioning itself for international expansion and capital market engagement [6].

Core Viewpoint - The report highlights the rapid expansion of the Real World Assets (RWA) market, emphasizing the need for clear theoretical frameworks and regulatory guidelines to manage the associated risks and innovations [3]. Financial Function Perspective on RWA Market - RWA provides new financing channels for illiquid assets, addressing traditional financing challenges [5]. - It lowers investment barriers, allowing ordinary investors to access high-value projects previously available only to institutional investors [5]. - RWA initiators benefit from flexible financial management, improving asset-liability management [5]. - The market enhances transaction efficiency and transparency, enabling global access and reducing fraud risks [5]. - RWA contributes to the stability of on-chain financial activities by providing quality underlying assets for DeFi protocols [5]. Challenges in RWA Market Development - The complexity of modern financial markets increases risks associated with structured financial products [8]. - Historical asset securitization has evolved, but the combination of structured financial derivatives and securitization raises systemic risks [10]. - RWA encompasses both financial and non-financial assets, inheriting risks from traditional financial innovations [11]. Strategies for Healthy RWA Market Development - Identifying RWA-related risk characteristics is crucial, ensuring asset ownership clarity and value stability [13]. - Regulatory frameworks need to evolve, establishing a classification system based on asset attributes and market circulation [14]. - Standardization of RWA is essential, focusing on asset mapping, data interfaces, and regulatory compliance [15]. - Encouraging innovation that serves the real economy is vital, with a focus on high-value scenarios and sandbox testing mechanisms [16].