USDT, STO and RWA: How Traditional Finance and Blockchain Finance Intersect When the Regular Army Strikes?
In June of this year, the Financial Supervisory Commission (FSC) announced the formation of the “Real World Assets (RWA) Tokenization Task Force” in collaboration with six financial institutions, including Taishin Bank, Taipei Fubon Bank, China Trust Bank, Cathay Securities, Cathay Asset Management, and Yuanta Financial Holdings.
This task force boasts a significant lineup, making RWA (Real World Assets) one of the hottest topics in Taiwan’s fintech sector recently. RWA encompasses financial assets such as stocks and bonds, tangible assets like real estate and precious metals, and even intangible assets such as carbon credits. RWA tokenization refers to utilizing technologies such as blockchain, cryptography, or smart contracts to convert real-world assets into digital tokens, facilitating subsequent trading or service provision.
The “Web3 Great Westward Expansion” has launched a new series titled “Understanding Real World Assets RWA from Tokenized Gold,” with the first episode discussing the origins of RWA and the trend of traditional finance’s “regular army” participating in RWA.
Wayne Huang, co-founder and CEO of XREX, believes that “stablecoins” are one of the most successful applications of blockchain technology. Since the value of stablecoins is pegged 1:1 to the US dollar, they can be considered the progenitors of RWA.
The success of current US dollar stablecoins stems from their ability to address issues of dollar scarcity and transaction efficiency in traditional finance, creating a user experience that is “ten times better” than existing solutions. Winston Hsiao, co-founder and Chief Revenue Officer of XREX, believes that traditional finance’s entry into RWA is motivated by the success of stablecoins and the underlying blockchain technology, aiming to explore and identify suitable development opportunities.
In this episode, Wayne further shares two key elements for the success of tokenization: “public chains” and “global liquidity.” Winston also offers additional insights, suggesting that the once-popular NFT (non-fungible token) might provide more possibilities for RWA. Have you ever considered that one day, your stocks, insurance, and mortgaged assets could possibly be related to NFTs?
Web3 Great Westward Expansion
Hosted by Wayne Huang and Winston Hsiao, co-founders of XREX, along with Yoyo You, Senior Director of Corporate Communication at XREX Group, the show aims to help you understand the concept of decentralization and view the Web3 world from various perspectives.
Episode Summary
The FSC establishes the “Real World Assets Tokenization Task Force”; what advantages does traditional finance gain from entering RWA?
A “ten times better” user experience is key for the success of RWA-related applications
Two key factors for successful tokenization: “public chains” and “global liquidity”
What are the secrets behind the stablecoin’s successful foothold as the progenitor of RWA?
What competition and challenges arise between “new financial institutions” and the “financial regular army” on the road to RWA?
Is there a possibility for RWA to combine with NFT applications?
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