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BCH $446.20 +0.21%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9138 -6.63%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

trial

Caixin: The earliest trial case of RWA in China comes from Ant Group

The Caixin article "Strict Management of Overseas RWA" reveals that the earliest RWA case trial in China came from Ant Group, which has helped companies like GCL-Poly Energy and Longxin Technology complete RWA financing ranging from tens of millions to billions of RMB. Ant Group uses the income rights of assets under these companies as underlying assets, splitting them into standardized digital tokens through blockchain technology, helping enterprises issue digital tokens for financing. These RWA projects follow the "domestic assets - Hong Kong confirmation - global circulation" model, and according to Hong Kong regulatory requirements, they are not open to retail investors, only limited to institutional or professional investors, and there is no secondary market trading.Regarding what types of domestic Chinese assets are suitable for overseas RWA, policy insiders indicate that, in principle, any assets that meet regulatory requirements can be considered, but they must not fall under the categories listed in China's domestic regulatory negative list. Individuals in the cryptocurrency field point out that high-quality domestic companies that are eligible for overseas IPOs will not choose RWA, as opting for RWA will inevitably fail to meet the listing conditions in Hong Kong. For domestic assets to be used in overseas RWA, it is essential to first confirm the safety of assets, funds, and information, ensuring compliance with cross-border investment, foreign exchange management, data security, and other relevant requirements, and finally obtain registration from the securities regulatory authority, with the registration process further considered on a case-by-case basis.

Hong Kong Financial Services and the Treasury Bureau: This year, four regulatory framework bills for virtual asset service providers will be submitted, and the trial operation of the gold clearing system will be promoted

According to the Hong Kong Government News Bulletin, the Financial Services and the Treasury Bureau and the Securities and Futures Commission are formulating the regulatory details for virtual asset trading and custody services. The goal is to submit a bill to the Legislative Council this year regarding the regulation of four types of service providers related to virtual assets, including opinions on virtual assets and virtual asset management services. In addition, the Hong Kong "Stablecoin Ordinance" officially came into effect in August 2025, and the Monetary Authority is currently processing related license applications.In establishing an international gold trading market, Hong Kong has set a target to expand gold storage by over 2,000 tons within three years to build a regional gold reserve hub. The Hong Kong Central Clearing System, wholly owned by the government, has been established, and the target clearing system is set to commence trial operations within this year. Furthermore, the Financial Services and the Treasury Bureau is studying the optimization of tax relief measures related to the treasury center and exploring the possibility of shortening the stock settlement cycle from the current T+2 to T+1.

The Ministry of Industry and Information Technology issued the "Action Plan for Empowering the Integration of Industrial Internet and Artificial Intelligence."

The Ministry of Industry and Information Technology has issued the "Action Plan for Empowering the Integration of Industrial Internet and Artificial Intelligence." The goal is to significantly enhance the level of integration and empowerment of industrial internet and artificial intelligence by 2028. The scale of new industrial networks that meet the communication needs of high throughput, low latency, high reliability, and low jitter for artificial intelligence industrial applications will continue to expand. Key industries such as raw materials, equipment manufacturing, consumer goods, and electronic information will accelerate the deployment and application, promoting the transformation and upgrading of no less than 50,000 enterprises to new industrial networks.The system for gathering, governance, circulation, and sharing of industrial data will be continuously improved, creating a number of high-quality datasets in 20 key industries. Focusing on key links and typical scenarios of important industrial chains, a batch of intelligent solution providers will be cultivated to effectively promote the collaborative upgrading of large, medium, and small enterprises. Key enterprises, technical products, public services, and other resource elements will achieve efficient allocation.
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