Workflow
RWA资产
icon
Search documents
肖耿:稳定币助力资产增值与财富创造
Sou Hu Cai Jing· 2025-08-14 10:09
Core Viewpoint - The development of stablecoins and RWA (Real World Assets) in Hong Kong is crucial for enhancing the internationalization of the Renminbi and solidifying Hong Kong's status as an international financial center [1][6]. Group 1: Asset Appreciation and Wealth Creation - China faces intense competition in asset appreciation and wealth creation, particularly in trade, investment, technology, and macroeconomic policies [2]. - The U.S. has a long-term trade deficit due to low savings and high consumption, while China maintains a trade surplus due to high savings and low consumption [2]. - China needs to increase spending and implement demand-side reforms to match its strong supply capabilities with income and wealth generation [2]. Group 2: Hong Kong's Role in National Development - Hong Kong's monetary and regulatory advantages can facilitate high-quality outbound ventures for mainland enterprises and attract multinational companies to the Greater Bay Area [3]. - The development of a stablecoin linked to the Renminbi and related RWA asset systems can better connect the internal and external economic cycles [3]. Group 3: Institutional Advantages of Hong Kong - Hong Kong has an efficient supply chain network, a robust banking system, a strong capital market, reliable accounting services, and a trustworthy legal framework [4]. - The establishment of a "special zone within a special zone" in the northern metropolitan area of Hong Kong can enhance the dual circulation strategy [5]. Group 4: Promoting Renminbi Internationalization - Hong Kong plays a significant role in promoting the internationalization of the Renminbi, which is often underestimated due to the exclusion of Hong Kong financial data from mainland statistics [6]. - The asset size of the Hong Kong Monetary Authority is approximately 9.5% of the People's Bank of China, indicating a high level of internationalization in Hong Kong's banking sector [6]. Group 5: Digital Financial Technology - The use of stablecoins, limited blockchain, and digital smart contracts can enhance Hong Kong's international financial center status [7]. - The introduction of a legal framework for stablecoins in Hong Kong will support the creation of a stablecoin linked to the offshore Renminbi [8]. Group 6: Future Development of Digital Financial Infrastructure - Future digital financial infrastructure in Hong Kong should focus on stablecoins, blockchain, and smart contracts to enhance trust and reduce transaction costs [11]. - The regulatory framework should allow for the issuance of offshore Renminbi stablecoins, facilitating easier access to international markets [11]. Group 7: New Financial Products and Services - The development of new offshore Renminbi products and services can complement the existing dollar-dominated international financial system, enhancing resource allocation efficiency [12]. - The integration of AI and big data in digital financial products will improve risk assessment and market responsiveness [12].
民生证券:构建稳定币-RWA生态闭环 相关资产上链有望成为拉开Web3.0时代大幕
智通财经网· 2025-07-26 09:57
Core Viewpoint - The collaboration between government and enterprises is creating a stablecoin ecosystem anchored by high-quality Chinese assets, with RWA assets on-chain expected to usher in the era of Web 3.0 [1][5] Group 1: Stablecoin and RWA - Stablecoins focus on "fiat currency tokenization," while RWA emphasizes "asset tokenization," enhancing asset liquidity and providing low-risk, stable-return financial products in the Web 3.0 space [2] - Hong Kong is leading the world in stablecoin legislation, closely following the U.S. legislative progress [2] Group 2: Blockchain Layers - The progression from consortium chains to Layer 2 public chains and then to Layer 1 public chains highlights the advantages of each layer, including compliance with KYC/AML regulations and high transaction performance [3] - Layer 1 public chains serve as the foundational layer for consensus, data storage, and smart contract execution, while Layer 2 enhances performance and liquidity [3] Group 3: RWA Development Phases - The first phase of RWA focuses on foundational construction, with assets being tokenized and offering fixed returns similar to traditional investments [4] - The second phase activates liquidity through a layered architecture, enabling a closed-loop of "financing-splitting-circulation" for RWA [4] - The third phase aims to create a mature global RWA ecosystem with cross-chain transactions becoming the norm [4] Group 4: Investment Recommendations - The report suggests monitoring companies involved in RWA asset tokenization, such as Aorede, Longxin Group, and Xiexin Energy, during the foundational phase [5] - For the liquidity activation phase, attention should be given to trading platforms and internet brokerages like Yao Cai Securities and Dongfang Wealth [5] - In the global asset network integration phase, major internet giants like JD.com and Alibaba are recommended for observation [5]
中资机构抢滩香港数字资产,业界呼吁构建M2向M0转换机制
Core Viewpoint - Hong Kong aims to establish itself as a global innovation hub for digital assets through the implementation of the "Hong Kong Digital Asset Development Policy Declaration 2.0," which emphasizes a trusted and innovative digital asset ecosystem focused on risk management and investor protection [1][2]. Group 1: Policy and Regulatory Framework - The "Policy Declaration 2.0" outlines a "LEAP" framework focusing on optimizing legal and regulatory aspects, expanding tokenized product varieties, promoting application scenarios and cross-sector collaboration, and developing talent and partnerships [1]. - The Hong Kong government will implement a stablecoin regulatory regime starting August 1, indicating a significant step towards becoming a key hub for digital assets and Web3 innovation [1][2]. Group 2: Market Dynamics and Risks - The U.S. Senate has passed the "GENIUS Act," establishing a regulatory framework for stablecoins, which could have profound implications for the market, particularly concerning the prevention of double-spending [2][3]. - If Hong Kong fails to establish an M2 to M0 conversion mechanism promptly, it risks being overshadowed by U.S. dollar stablecoins [3]. Group 3: RWA Development and Challenges - As of June 2025, the global RWA (Real World Assets) market, excluding stablecoins, is estimated at approximately $25.5 billion, with private credit, U.S. Treasury bonds, and commodities being the top three products [4]. - The market for RWA is projected to reach $16 trillion by 2030, representing 10% of global GDP, but faces challenges such as insufficient on-chain application scenarios and liquidity issues [4][5]. Group 4: Strategic Recommendations - It is suggested that the People's Bank of China establish a mechanism to connect domestic digital RMB and RWA assets with Hong Kong stablecoins, facilitating effective capital flow between mainland China and Hong Kong [6]. - Investment firms are encouraged to leverage a dual-channel mechanism for converting RWA and digital assets to enhance market liquidity [6]. Group 5: Future Outlook - The implementation of the stablecoin ordinance in Hong Kong will require entities to obtain licenses for issuing stablecoins, with a limited number of licenses expected to be granted by 2025 [7][8]. - Companies are advised to focus on their digital asset business strategies rather than solely on obtaining stablecoin licenses, as the regulatory landscape evolves [7][8].
VEX平台:如何通过RWA资产突破贸易战挑战并引领全球财富流动
Sou Hu Cai Jing· 2025-04-22 11:32
2025年4月15日,VEX平台在TalkingWeb3的Twitter Space线上直播中分享了如何通过创新的RWA资产应 对全球贸易战带来的挑战,并进一步推动全球财富流动。尽管全球经济面临诸多不确定性,VEX通过 去中心化金融(DeFi)与区块链技术的结合,为投资者带来全新的增长机会。 RWA资产的数字化推动全球财富流动 VEX平台一直致力于将传统资产如房地产、商品、债券等带入区块链,并通过RWA资产的数字化赋予 其全球流动性和透明交易。通过这一创新,VEX不仅为全球投资者提供了稳定的投资机会,还为平台 代币VTC的稳定上涨提供了强有力的支撑。 在此次直播中,VEX团队重点展示了RWA资产如何通过去中心化金融(DeFi)和区块链技术应对贸易 战挑战,推动全球财富的高效流动。全球经济的不确定性仍在加剧,但RWA资产的独立性与稳定性为 投资者提供了一个理想的避风港,进一步增强了市场信心。 VEX平台的创新与生态扩展:HashTrail上线引爆去中心化娱乐 在此次直播中,VEX还重点介绍了即将上线的HashTrail——平台的创新去中心化竞猜游戏。HashTrail将 为玩家提供通过预测哈希值获得即时回报的全 ...