USDT, STO and RWA: How Traditional Finance and Blockchain Finance Meet When Regular Forces Strike?
In June this year, the Financial Supervisory Commission announced the establishment of a “Real World Assets (RWA) Tokenization Task Force” in collaboration with the Joint Credit Guarantee Corporation and six financial institutions, including Taishin Bank, Taipei Fubon Bank, CTBC Bank, Cathay Securities, Cathay Investment Trust, and Yuanta Financial Holdings.
The task force is backed by a robust 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, physical assets such as real estate and precious metals, and even intangible assets like carbon credits. RWA tokenization involves utilizing blockchain, cryptography, or smart contracts to transform real-world assets into digital tokens for subsequent trading or service provision.
The “Web3 Great Westward Expansion” program has launched a new series titled “Understanding Real World Assets RWA through Tokenized Gold,” with the first episode discussing the origins of RWA and the trend of traditional finance’s “regular forces” participating in RWA.
Wayne Huang, co-founder and CEO of XREX, believes that “USD stablecoins” are one of the most successful applications of blockchain technology. Since the value of stablecoins is pegged to the U.S. dollar at a 1:1 ratio, they can be considered the pioneers of RWA.
The success of current USD stablecoins is attributed to their resolution of issues such as dollar scarcity and transaction efficiency in traditional finance, creating a “ten times better user experience” than existing solutions. Winston Hsiao, co-founder and Chief Revenue Officer of XREX, believes that traditional finance’s entry into RWA is driven by the success observed in USD stablecoins and the underlying blockchain technology, aiming to explore and identify suitable development opportunities.
In this episode, Wayne further shared two key factors for the success of tokenization applications: “public chains” and “global liquidity.” Winston also offered more insights, suggesting that the once-popular NFT (non-fungible token) might provide additional possibilities for RWA. Have you ever thought that one day, your stocks, insurance, and mortgaged assets could be related to NFTs?
Web3 Great Westward Expansion
Hosted by Wayne Huang and Winston Hsiao, co-founders of XREX, along with Yoyo Yu, Senior Director of Corporate Communications at XREX Group, the program aims to help viewers understand the concept of decentralization and explore the Web3 world from various perspectives.
Episode Summary
The Financial Supervisory Commission establishes the “Real World Asset Tokenization Task Force.” What advantages does traditional finance have in entering RWA?
For RWA-related applications to succeed, a “ten times better” user experience is key
Two key factors for successful tokenization: “public chains” and “global liquidity”
What are the secrets behind the success of stablecoins as the pioneers of RWA?
What competition and challenges exist between “new financial institutions” and “traditional financial forces” on the RWA journey?
Is there a possibility for RWA to combine with NFT applications?
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Music Source
MusicbyAden – Earth
Download: Musicbyaden – Earth
Earth by MusicbyAden is licensed under CC BY-SA 4.0CC
This segment is a collaboration between XREX and “WEB3+”
