10月8日，当纽约期金价格有史以来首次突破每盎司4000美元大关时，传统的金融市场拉响了一声刺耳的警报。FolioBeyond的分析师Dean Smith一 针见血地指出，这并非单纯的商品上涨，它深刻反映出投资者对美元资产的不安情绪日益加剧。在这场关乎未来财富格局的重新锚定中，XBIT平 台数据显示，寻求替代性资产配置的用户活跃度显著提升，嗅觉敏锐的聪明资金，已然发现了比黄金更具想象力的新边疆——现实世界资产代币 化，即RWA代币。 警报拉响：传统避险逻辑的失效与资本的焦虑 黄金的史诗级上涨，是一个不容忽视的宏观信号。它意味着，在通胀预期回升、地缘政治不确定性以及对美国债务问题的深层担忧共同作用下， 投资者对传统美元资产的信任正在产生裂痕。这种信任裂痕，正如Dean Smith所言，"需要数年时间才能解决"，而资本从不坐以待毙。在XBIT去 中心化交易所的资产流向分析中，我们观察到，与实物资产锚定概念的代币近期关注度持续升温，这表明部分前沿投资者已在积极布局 beyond 黄 金的避险方案。 RWA：连接两个世界的价值桥梁与未来基石 那么，RWA代币究竟有何魅力，能够吸引如此多的关注？它的核心价值在于，将黄金 ...

智通财经APP讯，德林控股(01709)发布公告，公司继续积极制订及扩展其数字资产策略，专注于字节跳 动有限公司(字节跳动)、Payward, Inc.(Kraken)及E-Self.AI Ltd.(eSelf AI)等知名科技公司私募股权的代币 化，及持有德林大厦及 Animoca Brands权益的有限合伙基金的代币化。 集团最近透过若干投资基金或特殊目的公司(SPV)架构取得合共约570万美元的私募股权投资，以期将该 等私募股权投资用于日后的RWA代币化目的。该等私募股权包括间接持有字节跳动、Kraken及eSelf AI 等知名科技公司的权益。 字节跳动是中国的一家领先跨国互联网技术公司，旗下拥有全球热门短视频平台TikTok(每月活跃用户 逾19亿)以及其他AI驱动的内容平台。字节跳动在人工智能与数字内容服务领域展现出强劲的收益增长 与创新能力。集团透过投资基金架构间接投资于字节跳动，投资规模约为200万美元，字节跳动的隐含 估值约为3150亿美元。 有关(i)集团于持有位于香港中环的商用物业德林大厦的有限合伙基金(德林大厦LPF)的有限合伙权益及 (ii)由集团管理并持有 Animoca Bran ...

今天分享的是：2025房地产资产证券化报告：从证券化到通证化，RWA重构资产投资逻辑 报告共计：52页 房地产资产证券化新趋势：从证券化到通证化，RWA重构资产投资逻辑 在房地产行业转型升级的浪潮中，资产证券化正迎来全新变革。从传统的资产证券化（ABS）到新兴的现实世界资产代币化 （RWA），区块链技术的融入正在重塑房地产资产的投资逻辑，为行业带来碎片化、全球化、全天候的交易新可能。 RWA，即通过区块链技术将现实世界中的有形资产（如房地产、债券等）或无形资产转化为链上可交易的数字代币，实现资产 的高效流转。相较于传统资产证券化，RWA的优势十分显著。传统ABS对底层资产要求严格，仅限有稳定现金流的金融债权， 而RWA覆盖的资产范围更广，无论是有未来现金流的工厂设备、知识产权，还是无现金流的未开发土地、艺术品，都能成为链 上资产。在结构上，多数ABS设有复杂的分层机制和信用增级措施，成本较高，RWA则可通过智能合约自动分配权益，结构简 化且成本大幅降低。同时，RWA将资产拆分为更碎片化的份额，大幅降低投资门槛，普通投资者也能以小额资金参与，还支持 7×24小时全球链上交易，流动性远超依赖传统交易所的ABS。 ...

本报记者 张蓓 见习记者 黄指南 深圳报道 在过去一年，郑志刚的动态备受关注，与其家族企业债务危机的化解息息相关。脱离家族后，其事业选 择似乎不仅仅是个人的战略转型，也反映出豪门新生代在突破传统框架上的积极探索。 9月21日，他创办的香港上合发展控股（ALMAD Group）正式宣布成立，目标不仅仅是投资文化、娱乐 和体育等其历来专注的娱艺市场，还将涉足数字资产、RWA（现实世界资产）代币化等前沿领域。 RWA这一新金融概念在亚洲市场尚处于起步阶段，但已经引起了企业界的广泛兴趣。尤其是在房地产 行业，已有房企积极布局。 一位资深金融分析师指出，RWA代币化不仅能提高资产的流动性，还能通过区块链技术（不可篡改） 提升透明度和信任度，未来的资本市场可能会迎来更深层次的变革。 数字资产的地产革命 今年8月底，新城发展宣布在香港成立数字资产研究院，推动旗下资产的收益代币化，包括探索吾悦广 场资产的RWA产品发行。 而绿地集团则在此之前完成了首个RWA项目，将其在香港铜锣湾的高端写字楼资产进行数字代币化， 将29亿港元的资产拆分成100万份数字化股份，每份都利用区块链技术把对应权益和租金收益挂钩。 RWA之所以能在地产 ...

Core Viewpoint - RWA tokens have significant development potential in the real estate investment and financing sector, offering higher liquidity, transparency, trading efficiency, and cost advantages, while legal regulation and risk control remain challenging [1]. Group 1: Purpose of Research - The research focuses on the concept and types of RWA (Real-World Asset), its significance for real estate, and the advantages and risks associated with real estate RWA [2]. Group 2: Characteristics and Significance of RWA - RWA features include widespread transaction accessibility, convenience, traceability, low costs, high efficiency, and serving as the foundation for decentralized finance (DeFi) [3]. - RWA enhances the real estate sector by improving issuance and trading efficiency, significantly reducing intermediary costs, and lowering investment thresholds while increasing asset transparency [3]. Group 3: Development Trends, Risk Prevention, and Case Studies - The global value of RWA assets has reached $25.4 billion, with Deloitte projecting that real estate RWA tokens will reach $4 trillion by 2035, reflecting a compound annual growth rate of 27% [4]. - Notable cases include the first compliant real estate investment trust (REIT) STO issuance in Hong Kong in 2022, the listing of RWA NFT ownership certificates for a Hong Kong office by Greenland (Asia) Securities in June 2025, and a $1 billion U.S. real estate token project initiated by Blocksquare and Vera Capital in Q2 2025 [4].

据悉，若代币发行成功，未来的融资所得将用于加速多项创新肿瘤抗体项目的临床及临床前研发。创胜 集团董事会主席钱雪明博士表示："我们专注创新药研发，尤其是在治疗肿瘤、骨质疏松和慢性肾病领 域。做药是一个漫长、高风险、高投入的过程，我们需要大量资金。通过华检医疗的链上RWA数字平 台，我们可以将创新药管线的IP装入美国SPV进行新型融资，这为我们提供了全新的资金渠道。" 消息面上，创胜集团与华检医疗(01931)就潜在的创新药管线资产RWA代币化相关事项订立战略合作协 议。创胜方将其旗下六个核心创新药管线资产（TST003, TST005, TST786, TST105, TST106及TST013） 整合至其美国实体，并利用华检医疗构建的ETHK全球创新药知识产权RWA交易所进行潜在RWA代币化 合作。 智通财经APP获悉，创胜集团-B(06628)尾盘涨逾10%，截至发稿，涨8.31%，报4.82港元，成交额 2072.25万港元。 ...

Group 1: Federal Reserve's Impact on Digital Assets - The Federal Reserve's recent decision to cut interest rates by 25 basis points is expected to release trillions of dollars in liquidity into the market, which may drive the development of yield-generating DeFi products and Real World Asset (RWA) tokens [3] - The stablecoin market has reached a size of $13.7 billion, with the combination of stablecoins and RWAs becoming a new trend for institutional funds [3] - Binance has adjusted its perpetual contract minimum quote units to enhance market liquidity, while its C2C "Selected Zone" offers users up to 100% compensation guarantees, significantly reducing risks associated with frozen accounts [3] Group 2: Binance Wallet as a Key Asset Management Tool - Binance Wallet supports multi-chain asset storage, cross-chain trading, and access to yield-generating products, making it suitable for connecting with RWA tokens and yield-bearing stablecoins [3] - The wallet's core functionality is crucial for users' asset allocation strategies, allowing participation in DeFi yield projects directly through the wallet [3] Group 3: Security Measures in Digital Asset Management - Binance Wallet employs a hierarchical deterministic (HD) architecture for private key management, emphasizing the importance of safeguarding the mnemonic phrase to prevent irreversible asset loss [4] - XBIT Wallet, in contrast, offers a decentralized web3 wallet that emphasizes user control over private keys, aligning with the philosophy of decentralized and transparent digital assets [6] Group 4: User Guidelines for Security and Risk Management - Users are advised to generate their mnemonic phrases in a secure environment, verify their backups, and only connect to audited DApps to mitigate risks [9] - The choice between custodial and self-custodial solutions should be based on individual needs, with Binance Wallet being suitable for frequent traders and XBIT Wallet catering to users requiring high control over private keys [10] Group 5: Conclusion on Market Trends - The shift in the Federal Reserve's monetary policy is accelerating the mainstream adoption of digital assets, with both Binance Wallet's convenience and XBIT Wallet's self-control philosophy focusing on private key management and risk awareness [12]

Core Viewpoint - The article discusses the emergence of a new economy driven by AI and blockchain technologies, emphasizing the integration of real-world assets (RWA) into mainstream finance through tokenization, as exemplified by Figure's recent IPO on Nasdaq [2][4][24]. Part 01: What is the Future New Economy - The future new economy is defined as a complex system emerging from the integration of AI and blockchain, which will reshape traditional economic structures and interactions [6][7]. - The new economy formula is expressed as: Future New Economy = (AI + Embodiment + Brain-Machine) x (Blockchain + Cryptocurrency + Tokenization of RWA) x (Existing World + Existing Humanity + Existing Economy) [7]. - The shift from offline to online economic activities has evolved, with predictions that future economies will see a significant portion of value creation occurring on-chain [9][10]. Part 02: Paradigm Shift from AI and Blockchain - Decentralization will be enhanced as AI reduces the costs of entrepreneurship and business practices, allowing for the rise of "small but large" companies that leverage AI for value creation [12][13]. - The trend of disintermediation is expected to continue, with intermediaries needing to adapt their business models to survive in a landscape where trust is increasingly established through blockchain technology [15][17]. - The reliance on physical labor will decline as AI and embodied intelligence take over many labor-intensive tasks, leading to a rise in the importance of human creativity [20][21]. - The concept of a "robot and intelligent agent economy" is introduced, where autonomous systems will operate independently to create value, representing a significant shift in economic dynamics [22]. Part 03: Positive and Negative Outlooks - There is optimism regarding the potential for significant growth in the RWA token market, with estimates suggesting a thousandfold increase in value as traditional assets transition to blockchain [27]. - The article expresses skepticism about the viability of stablecoins issued by many enterprises due to their fragile profit models [28]. - The potential for a creator economy powered by AI and blockchain is highlighted, as these technologies can enhance creators' rights and value sharing [30]. - Concerns are raised about the sustainability of businesses based on information asymmetry, which are likely to face challenges as AI advances [31].

Core Viewpoint - Guofu Quantum (00290) has seen a significant increase in stock price, with a year-to-date rise of nearly 180%, currently trading at 2.19 HKD with a transaction volume of 23.88 million HKD. The company announced a major share sale that will result in a new single largest shareholder, enhancing its strategic collaboration in the digital finance sector [1]. Group 1: Shareholder Changes - Guofu Quantum's largest shareholder, Liu Zhiwei, along with shareholder Wang Tao, will sell a total of 1.848 billion shares to FINAL TOUCH LTD., a wholly-owned subsidiary of Huajian Medical, for 3.142 billion HKD, representing approximately 20.31% of the company's issued share capital [1]. - Following the completion of this transaction, Huajian Medical will become the single largest shareholder of Guofu Quantum [1]. Group 2: Strategic Collaboration - The two companies will focus on building a comprehensive strategic collaboration around "on-chain finance," aiming to innovate and implement digital financial infrastructure [1]. - They plan to integrate technology, licenses, assets, and channel resources to create an efficient, compliant, and open platform for on-chain asset issuance, trading, and management, accelerating the digitization, fragmentation, and cross-border flow of traditional financial assets [1]. Group 3: Recent Collaborations - On August 31, Guofu Quantum entered into a cooperation agreement with Meinian Health (002044) and Jingbeifang (002987) to explore digital rights and RWA tokenization using the revenue rights of Meinian Health's equipment assets, data assets, AI, and other emerging technology digital assets as underlying assets [1]. - This collaboration aims to explore new paradigms for releasing the value of equipment and data assets in the health care sector, contributing to the upgrade and innovative development of the health industry [1].

Core Viewpoint - 瑞和数智科技控股有限公司 is actively expanding its presence in the RWA (Real World Asset) sector through strategic partnerships and investments, aiming to leverage digital technology for asset tokenization and enhance its Web3.0 strategy [1][2][6]. Group 1: Strategic Partnerships and Investments - 瑞和数智 signed a strategic cooperation agreement with 铁林超光 to collaborate in the RWA field, focusing on the digital issuance of physical assets like renewable energy plants [1]. - The company has invested 80 million HKD in Web3.0 and cryptocurrency assets and partnered with BITMAIN for cloud mining services, showcasing its commitment to the digital asset landscape [1]. - The collaboration aims to create a benchmark project in the renewable energy sector, with an initial project involving over 60 MW capacity and an investment exceeding 250 million RMB [4][5]. Group 2: RWA Market Growth and Potential - The RWA market is projected to grow significantly, with a forecasted market size of over 260 billion USD by mid-2025, reflecting a fivefold increase from 2022 [2]. - RWA tokenization is expected to become a major trend, with predictions that by 2030, 10%-30% of global assets will be tokenized, potentially reaching a market size of 16 trillion USD [2]. - The integration of RWA with renewable energy assets is seen as a promising financing model, enhancing liquidity and efficiency in asset transactions [4][6]. Group 3: Regulatory Support and Market Positioning - The Hong Kong government is actively promoting RWA development through clear regulatory frameworks and policies, aiming to establish the region as a leading RWA hub in Asia [3]. - The launch of the world's first RWA registration platform in Hong Kong marks a significant step towards the practical application of RWA, moving from concept validation to large-scale implementation [3]. - 瑞和数智's collaboration with 铁林超光 is positioned to leverage the unique advantages of both companies, enhancing their market influence and expanding their asset scale [5][6].