Group 1 - The People's Bank of China announced innovative structural monetary policy tools in Shanghai, including the launch of blockchain-based credit refinancing for shipping trade and expansion of carbon reduction support tools [1] - The global merchant fleet's asset size exceeded $3 trillion in 2023, with a ship financing leasing penetration rate of only 18%, significantly lower than the 40% in the aviation industry [1] - RWA (Real World Asset tokenization) serves as a bridge between traditional assets and the crypto economy, providing new solutions for industry pain points through smart contracts [1] Group 2 - Major industry players like COSCO Shipping, CMA CGM, DP World, and Port of Singapore Authority announced the development of blockchain solutions for the maritime industry as early as 2018 [2] - The blockchain credit refinancing business is expected to be promoted nationwide, facilitating more efficient financing services for foreign trade enterprises and promoting the development of the shipping trade industry [2] Group 3 - COSCO Shipping Technology is collaborating with Circle to build a shipping financial blockchain for real-time settlement of global shipping fees in USDC, positioning it as a core strategic vehicle for digital finance [3] - COSCO Shipping Holdings is involved in the operation of GSBN (Global Shipping Business Network), which aims to support trustworthy transactions and seamless cooperation among global trade participants through blockchain technology [3]

据智通财经6月12日报道，针对有报道称蚂蚁国际正计划在香港和新加坡申请稳定币牌照一事，6月12 日，蚂蚁国际回应称，正在全球财资管理方面加速投资、拓展合作，将我们的AI、区块链和稳定币创 新投入真实可靠的大规模应用。 蚂蚁国际表示："我们欢迎香港立法会通过《稳定币条例草案》，将于法案8月1日生效、相关通道开启 后尽快提交申请，希望为香港建设未来国际金融中心贡献更多力量。" 受消息带动，港股云峰金融等尾盘大涨。 华西证券指出，稳定币是指价值与某种法定货币或资产锚定的加密货币。其基于区块链技术发行，具有 很好的开放性，支持可控匿名，可以直接点对点交易，天然具有跨境属性。 根据DEFILLAMA数据，截至2025年6月8日，全球稳定币总市值已攀升至约2503.05亿美元（约合人民 币1.8万亿元），较2019年末的约50亿美元增长了约50倍，呈现出爆发式增长态势。这一趋势不仅彰显 了稳定币在加密货币生态中的迅猛扩张，也凸显了其在支付、交易及去中心化金融（DeFi）等领城日益 不可替代的地位。 其表示，展望未来，稳定币可能会深度融入全球金融体系，最可能的情况是，稳定币将与传统金融体系 互补，成为银行和支付平台(如Vi ...

徐刚博士，这位数字资本集团（DCG）的创始人兼董事局主席，在长期研究和实践中认为稳定币和现 实世界资产（RWA）代币化正通过区块链技术革新全球金融体系，不仅提升效率，还推动社会公平与 经济包容。他结合技术特性、经济影响及社会价值，分析其变革潜力。 一、降低金融门槛，推进普惠金融 1. 跨境贸易效率革命稳定币规避汇率波动，缩短企业回款周期。例如，京东计划发行港元稳定币优化大 湾区汇兑；Stripe通过收购Bridge实现101个国家稳定币支付覆盖，打通传统与加密金融。 1. 资产碎片化与投资民主化RWA代币化将高价值资产（如房地产、黄金、艺术品）分割为小额代币， 降低投资门槛。例如，DCG打造的澳大利亚数字资产交易所AUDX，通过资产上链等技术手段将价值 1000万美元的房产可拆分为1000万个1美元代币，普通投资者以100美元即可参与。2025年，商品代币化 市场预计达45亿美元。 社会意义：缩小财富差距，为中低收入群体提供资产增值机会。 2. 稳定币的金融包容性 在银行服务不足的新兴市场（如非洲、拉美），稳定币对抗通胀并支持小额信贷，跨境支付成本仅为 SWIFT系统的0.1%，结算时间从3-5天缩短至分钟级 ...

Group 1 - The Hong Kong Stablecoin Regulation will take effect on August 1, marking a critical phase for compliance and investment by relevant institutions [1] - Ant Group's Ant Financial has initiated the application for a Hong Kong stablecoin license and has engaged in multiple rounds of communication with regulators [1][2] - Ant Financial aims to build digital trading scenarios based on stablecoins, enhancing market potential through compliance and technological innovation [2] Group 2 - Ant Financial has established Hong Kong as its global headquarters and has completed a regulatory sandbox trial in the region [2] - The company issued its first cross-border Real World Assets (RWA) tokenization in Hong Kong last August and has announced a new company, "Ant Xineng," in collaboration with its RWA project partner [2] - Ant International, a subsidiary of Ant Group, is also applying for a Hong Kong stablecoin license and plans to accelerate investments in global treasury management [2]

本次大会上，孙宇晨也在多个场合强调波场TRON在稳定币基础设施建设中的角色，并指出下一步的发 展重心是通过波场TRON网络拓展更多结算应用场景，例如与新兴市场的银行、支付机构、企业合作， 实现稳定币的本地化清算和国际结算连接。USDT作为最具流动性的稳定币，其在波场TRON链上的成 功，不仅巩固波场TRON的网络地位，也推动了整个去中心化金融体系向更广泛、更实用的方向演进。 随着全球金融对链上结算需求的持续增长，波场TRON网络正在成为数字金融世界的基础设施中枢。孙 宇晨所描绘的"全球结算层"不再只是前瞻性的愿景，而是在USDT流通和现实应用中逐步落地，助力全 球用户享受更加便捷、公平和普惠的数字经济服务。 孙宇晨早在公开场合中就多次提出"波场TRON将成为全球结算层"的愿景，认为区块链的发展不应仅局 限于技术创新，而要服务于实际的金融需求，尤其是在跨境支付、链上清算和稳定币结算等关键场景中 展现落地能力。如今，USDT的大规模部署正在波场TRON网络上加速实现这一目标，波场TRON已经 成为许多新兴市场、加密交易平台和DeFi协议首选的稳定币承载平台。 相比于其他网络，波场TRON链在稳定币应用上拥有更高的 ...

Core Insights - The event "Whales & Insiders: BTCFi and New Yield Opportunities" was co-hosted by TRON and MetaEra, featuring TRON founder Justin Sun as the keynote speaker, discussing the underlying logic of BTCFi and providing actionable yield strategies based on TRON's ecosystem [1][2] - The rise of BTCFi signifies a shift in blockchain finance from "asset storage" to "yield creation," with the total value locked (TVL) in global BTCFi protocols exceeding $12 billion, a 300% increase since the beginning of the year [2][4] - TRON's BTCFi protocols account for 28% of the total TVL, making it the second-largest ecosystem after Ethereum, highlighting TRON's strategic position in the BTCFi landscape [2][4] BTCFi and New Yield Opportunities - The private event attracted over 100 industry elites from more than 30 countries, including representatives from leading institutions like Bitwise and Grayscale, as well as core developers from DeFi protocols such as Chainlink and Aave [2] - The focus was on exploring the integration of Bitcoin's ecosystem with decentralized finance (DeFi) to uncover new yield models driven by blockchain technology [2] TRON's Technological Support - Justin Sun emphasized that the scalable development of BTCFi requires two core capabilities: cross-chain technology for asset interaction and high throughput to handle frequent transactions and complex computations [4] - TRON has developed a complete solution through its JustLend 2.0 cross-chain protocol and a network capable of millions of transactions per second (TPS), creating a "flywheel effect" for the BTCFi ecosystem [4] Future Development of BTCFi - Sun outlined TRON's plan to launch a "BTCFi dedicated chain" by 2025, aiming to reduce transaction costs for BTCFi protocols by over 50% through a customized consensus mechanism and virtual machine [6] - TRON will establish regional centers in Dubai, Hong Kong, and Panama to promote localized compliance for BTCFi protocols [6] Industry Leadership - As a leading figure in the blockchain industry, Justin Sun is driving the practical application of technology and ecosystem prosperity, transforming decentralized ideals into real-world value [8] - The successful hosting of the high-end private event provides new perspectives for the industry and showcases China's blockchain technology leadership on the global stage [8]

Group 1 - The core concept revolves around Real World Assets (RWA), which digitalizes physical assets with actual value and economic significance, enabling their transformation into tradable digital tokens through securitization and blockchain technology [1] - RWA combines the mature experience of Real Estate Investment Trusts (REITs) with blockchain's distributed ledger and smart contract features, enhancing liquidity and transparency while reducing transaction costs [1][5] - The integration of RWA and Revenue-Based Financing (RBF) creates a powerful synergy that addresses the challenges of narrow financing channels and enhances the efficiency of resource allocation in the economy [5][6] Group 2 - RBF allows companies to convert future expected income streams into immediate capital without relinquishing equity or providing substantial collateral, thus opening new financing avenues [3][5] - The RBF model utilizes discrete function algorithms to structure and discount future cash flows, enabling businesses to access funds in advance for growth opportunities [3][6] - The combination of RWA and RBF not only resolves financing difficulties for enterprises but also promotes a healthy circulation between on-chain and off-chain economies, facilitating efficient resource flow [5][8]

Industry Overview - Real World Assets (RWA) refer to the tokenization and tradability of real-world assets such as loans, bonds, and real estate on blockchain platforms, enabling DeFi operations [1] - The market for RWA is gaining traction due to institutional demand for safe-haven assets and the integration of DeFi with traditional finance [1][2] Market Landscape - The total on-chain RWA market is projected to reach $15.4 billion by March 2025, marking an 80% year-over-year growth [2] - Tokenization of U.S. Treasury bonds has surged by 415%, increasing from $769 million to $3.96 billion [2] - Private credit has seen a 48% growth, while real estate tokenization is expected to grow at a compound annual growth rate (CAGR) of over 20% [2] Institutional Involvement - Major financial institutions like BlackRock and JPMorgan are entering the RWA space, with BlackRock's BUIDL fund managing over $500 million [2][7] - The integration of RWA into DeFi platforms is enhancing the yield and risk-return profile of investments [5][6] Technological Advancements - New blockchain infrastructures such as Plume and Mantra are being developed specifically for RWA [3][20] - Chainlink's oracle technology covers approximately 70% of RWA asset pricing needs, serving as a critical infrastructure component [3][12] Emerging Segments - The real estate tokenization market is expected to grow from several hundred million dollars in 2023 to over $10 billion by 2025 [3] - The carbon credit market has surpassed $1.5 billion, with projects like Moss.Earth tokenizing 2 million hectares of the Amazon rainforest [3] Driving Forces Behind RWA - High interest rates and the need for stable returns are driving the demand for RWA [4][14] - Legal and technological advancements are facilitating the compliance and operational frameworks necessary for RWA [4][14] Future Outlook - The RWA market is expected to see significant growth, with projections indicating a total value locked (TVL) of $150 billion by 2024 [15] - The integration of RWA with DeFi is anticipated to create new investment opportunities and enhance liquidity [32][33]

一、事件回顾：区块链外衣下的庞氏骗局坍塌 近日，Web3领域再爆惊天骗局。号称"全球首个区块链移动生态"的WkeyDAO项目被证实跑路，涉及资金超12.8亿元人民币，波及投资者逾27万人次。 这场打着"年化收益600倍"旗号的资本游戏，在维持了短短97天后轰然倒塌，留给市场的不仅是成堆的虚拟货币泡沫，更有1.2万台未交付的所谓"区块链手 机"堆积在浙江某保税仓库。 据杭州余杭区经侦部门通报，WkeyDAO运营方杭州维链科技通过32个资金账户进行多层嵌套式洗钱，涉案账户日均流水峰值达4300万元。 值得注意的是，该项目曾获得某海外基金会"战略投资"背书，后经查证该基金会实为壳公司，注册资金仅1万美元。 二、资金盘运作模式深度拆解 1. 复合型传销架构 项目方构建了"硬件销售+代币质押+推荐返佣"三位一体的收割体系： 首层：以699美元/台的Web3手机为入口，承诺"挖矿加速""空投优先"等权益 二层：设置WKD代币质押池，宣称每12小时复利0.2%-0.83%（实际年化518%-1982%） 三层：12级金字塔推荐体系，下级投资收益的3%-15%作为上级奖励 1. 奥林巴斯道模型变异 引入动态质押惩罚机制：提前 ...

Core Insights - The core concept of RWA (Real World Assets) is to utilize blockchain technology for asset ownership verification and fragmentation, enabling high-value assets like commercial real estate to be divided into multiple token units [1] Group 1: Technological Implementation - The implementation involves three key stages [2] - Tokenization of assets allows for fractional ownership, significantly lowering investment thresholds, as seen with platforms like RealT and Maecenas [1][3] - The tokenization of carbon credits by Toucan Protocol has reduced trading costs by 82% and increased market liquidity by 12 times [4] - Goldman Sachs and Coinbase's collaboration on tokenized treasury funds has shown a 300% increase in turnover rates for institutional investors [5] - The TradeLens platform by Maersk and IBM has reduced trade financing processing time from 7 days to 15 minutes, improving capital utilization by 65% [5] Group 2: Market Dynamics - The democratization of alternative investments is exemplified by Maecenas, which has lowered the investment threshold for high-value art pieces from millions to hundreds of dollars [3] - Traditional financial giants like BlackRock and Morgan Stanley are entering the RWA space, with BlackRock's BUIDL fund managing over $5 billion [7] - Regulatory frameworks are evolving, with the EU's MiCA legislation and Singapore's Project Guardian establishing standards for tokenized assets [8] Group 3: Ecosystem Innovations - The Decentraland platform is exploring virtual real estate collateralized lending, enhancing the utility value of digital assets by three times [9] - Legal structures are being established to protect token holders' rights and ensure asset risk isolation through special purpose vehicles (SPVs) [10] - The value anchoring mechanism using Chainlink oracles for real-time asset valuation updates is being implemented [10] Group 4: Future Outlook - The true value of RWA extends beyond technology, fundamentally reshaping asset allocation logic and breaking traditional financial market constraints [12] - PwC predicts that by the 2030s, the market for tokenized assets will exceed $16 trillion, representing 14% of global GDP [12]