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Coatue founder elaborates on the EMW2025 report: Bitcoin's asset status rises, stablecoin system benefits become prominent

ChainCatcher news, at the recent EMW2025 conference, Coatue Management co-founder Philippe and Thomas Laffont were interviewed by the podcast BG2, where they delved into the latest market research report, providing an in-depth analysis of the valuation logic of crypto assets, the development trends of stablecoins, and their institutional significance.Philippe stated that Bitcoin is gradually evolving into a "corporate-level asset," with a current market capitalization of about $2 trillion, which still represents a low percentage of the nearly $500 trillion in global net assets, indicating further upward potential. He predicts that as institutions gradually accept its volatility, Bitcoin's market capitalization is expected to rise to $5-6 trillion in the future, becoming a more systematically influential asset class.Thomas emphasized that the advancement of stablecoin legislation is an important milestone for the crypto industry, significantly reducing regulatory uncertainty. He anticipates that "interest-bearing stablecoins" will emerge in the near future, potentially issued by governments in different maturities, directly targeting global investors and reshaping the issuance mechanism and participation methods of sovereign bonds.The two founders pointed out that traditional VCs, after experiencing early project failures, have a biased understanding of crypto assets. However, with the widespread application of Bitcoin and stablecoins, the industry's valuation methods need to be more flexible, reassessing the trend value of leading assets. At the same time, stablecoins have gradually become core tools for corporate payments and fund management, as the crypto market shifts from "speculative logic" to "institutional recognition and practical drive."

HashKey Chain partners with GF Securities (Hong Kong) to issue "GF Token" tokenized securities, promoting the on-chain implementation of RWA

ChainCatcher news, HashKey Chain announced a collaboration with GF Securities (Hong Kong) to officially launch the first daily redeemable tokenized security product "GF Token". This product has achieved end-to-end on-chain deployment and issuance through HashKey Chain, supporting multi-point sales and multi-custody methods, providing a standardized path for on-chain tokenized assets."GF Token" is issued by GF Securities (Hong Kong) based on its credit, targeting institutional and high-net-worth individual professional investors, offering three currency options: USD, HKD, and offshore RMB. Among them, the USD product's yield is anchored to SOFR, featuring daily interest calculation, high liquidity, and on-chain traceability, making it suitable for cash management and on-chain asset allocation needs.This issuance has received comprehensive technical and platform support from HashKey Group's HashKey Cloud, HashKey Tokenisation, and HashKey Exchange, marking another key advancement for Hong Kong in the direction of RWA asset tokenization.GF Securities (Hong Kong) CEO Zeng Chao stated that this collaboration is an important part of its digital finance strategy and will continue to promote the establishment of a compliant tokenized securities ecosystem in Hong Kong. HashKey Group Chairman Xiao Feng pointed out that "GF Token" embodies the deep integration of financial institutions and on-chain infrastructure, providing a replicable paradigm for the development of global on-chain finance.

D3 establishes a 1 million USDC developer fund to promote the testing network ecosystem of domain assetization protocol

ChainCatcher news, according to Decrypt, Web3 domain infrastructure provider D3 Global announced the establishment of a $1 million USDC developer fund to support the ecosystem development of its Doma Protocol public testnet. This testnet includes two core components: the developer program Doma Forge and the domain investment platform (start.doma.xyz), aimed at transforming the $364 billion domain industry into on-chain real-world assets (RWA).The Doma Forge program will provide developers with three resources:A million-dollar funding pool to support projects from development to mainnet deployment;Technical on-site guidance and integration channels with ecosystems like Solana and Base;An open-source API toolkit to support domain data applications in scenarios such as DeFi and digital identity.The testnet will simultaneously launch a domain trading platform, supporting on-chain tokenized trading of traditional domains like .com and .xyz, as well as Web3 suffixes like .solana and .shib, enabling fractional ownership and DeFi liquidity access.D3 CEO Fred Hsu stated that the protocol bridges the Web2 and Web3 domain markets through an ICANN-compliant framework and has already achieved technical integration with public chains like Solana and Avalanche. The testnet will open domain asset trading, staking, and other functionality verification to over 400 million crypto wallet users.
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