Tokenising equities is only the first step. The bigger challenge is building the market around them. At the Equity Tokenisations’ Next Wave: From US Stocks to the World panel at the 12th Global Blockchain Summit @festival_web3, HashKey RWA CEO Anna Liu joined representatives from @Ondo, @CantonNetwork and @BlackRock to discuss the next phase of equity tokenisation. The message is clear. Tokenisation is moving beyond issuance. The ability to connect onchain networks with traditional market infrastructure, while addressing liquidity, cost and institutional risk management, will be key to broader institutional adoption.

HashKey RWA | The Weekly View | September 15-21, 2026 🔝 Weekly View: Regulation and infrastructure took centre stage this week, with major developments across Hong Kong and the U.S. shaping the next phase of tokenised finance. 📊 Number of Focus: 5 Hong Kong unveiled its first Five-Year Plan, placing digital assets and tokenisation within its longer-term financial development strategy. [1] Top News: 1️⃣ Hong Kong unveils its first Five-Year Plan and 2026 Policy Address, advancing tokenised markets and CBDC settlement. [1] 2️⃣ SEC issues “Innovation Exemption” to facilitate on-chain trading of tokenised U.S. stocks. [2] 3️⃣ Ondo becomes the first tokenisation platform to join DTCC’s Fund/SERV. [3] 4️⃣ European Central Bank opens merchant applications for its upcoming digital euro beta pilot. [4] What’s on your radar this week? Follow us for the latest updates on tokenisation.

HashKey RWA at STO Summit 2026 🇰🇷 Anna Liu, CEO of HashKey RWA, will be speaking at STO Summit 2026, an official core programme for digital assets and tokenised securities under the FSC-led Korea Premium Week 2026, taking place at the Korea Exchange (KRX) in Seoul. Joining Korean policymakers, key market institutions and global financial leaders, Anna will share HashKey RWA’s experience in bringing tokenization frameworks into real-world market application. 🎙 Building Tokenised Securities: From Framework to Market 📅 October 2 | 15:40–16:00 Event details: sto.edaily.co.kr/sto-summit-…

HashKey RWA | The Weekly View | September 8-14, 2026 🔝 Weekly view: Tokenisation advanced across payments and securities this week, driven by clearer regulation and growing institutional adoption. 📊 Number of focus: $304B The total stablecoin market cap reached $304 billion, maintaining its broader upward trend. [1] Top News: 1️⃣ India launches Demat 2.0 pilot for tokenised corporate bonds with wholesale CBDC settlement. [2] 2️⃣ @dbsbank and @Citi partner on instant 24/7 cross-border USD payments using tokenised deposits. [3] 3️⃣ @Nasdaq invests $100 million in @krakenfx parent @Payward to advance tokenised equities infrastructure. [4] What’s on your radar this week? Follow us for the latest updates on tokenisation.

Tokenised ETFs can open new ways to access traditional assets. But new access alone won’t bring new capital on-chain. At @etfgi's Outlook for the Asset Management and ETF Industry panel, Anna Liu, CEO of HashKey RWA, joined representatives from PwC, State Street and BSE Indices to discuss the future of asset management, ETFs and tokenisation. Looking ahead, she also sees blockchain enabling small, continuous AI-generated revenue streams to be distributed at scale. From existing assets to new types of income, tokenisation could extend what financial infrastructure makes possible. Read more panewslab.com/zh/articles/01…

❓ Is there only one way to tokenise an asset? It’s a question we get asked a lot. The answer? Nope. Today, the two most common approaches are native and synthetic tokenisation, each with a different structure and relationship to the underlying asset. 🔵 Native tokenisation: the token is issued directly on-chain and represents the legal share or ownership interest, making the blockchain part of the asset’s ownership infrastructure. ⚪ Synthetic tokenisation: the underlying asset remains off-chain with a custodian or intermediary, while a separate token provides economic exposure without direct legal ownership of the asset. In simple terms: 🔵 Native = token is the asset. ⚪ Synthetic = token represents exposure to the asset. But these aren’t the only possibilities. As the industry evolves, new tokenisation models are continuing to emerge. Curious about how they work? Follow us for a deeper dive into the different models.

HashKey RWA | The Weekly View | September 1–6, 2026 🔝 Weekly view: Tokenisation advanced further into mainstream finance this week, driven by regulatory progress and growing institutional participation across Asia and the US. 📊 Number of focus: 21 21 financial institutions, including @BankofAmerica, @Citi, and @GoldmanSachs, have committed to establish a global stablecoin venture, targeting an initial USD-denominated offering in H1 2027. [1] Top News: 1️⃣ South Korea sets roadmap to tokenise stocks, bonds and funds from 2027. [2] 2️⃣ Singapore moves to implement its stablecoin regulatory framework through legislative amendments. [3] 3️⃣ HKD stablecoin $HKDAP expands its authorised distribution network to five institutions. [4] 4️⃣ SEC proposes transfer agent rules covering blockchain-based securities recordkeeping. [5] 5️⃣ HashKey joins DTCC Digital Assets Industry Working Group as its first Asian digital asset service provider. [6] What’s on your radar this week? Follow us for the latest updates on tokenisation.

🎙️ Anna Liu, CEO of HashKey RWA, joined The Law Society of Hong Kong’s Annual Conference of In-House Lawyers for a discussion on the legal frontiers of tokenisation, stablecoins and digital asset regulation. Anna shared how tokenisation is reshaping legal concepts of ownership, settlement and financial intermediation. As assets move on-chain, investors can access new models of direct ownership, while atomic settlement and programmable compliance can reduce many of the frictions built into today’s financial infrastructure. But greater efficiency does not remove the need for intermediaries. As Anna noted, their role may shift from operator to guarantor, providing the judgement, accountability and legal enforceability that technology alone cannot replace.

HashKey RWA | The Weekly View | August 25-31, 2026 🔝 Weekly view: Stablecoins and tokenised assets continued to move deeper into mainstream financial infrastructure, with new developments spanning payments, bank partnerships and institutional fund distribution across Europe and Asia. 📊 Number of focus: $1 billion Global stablecoin card spending crossed $1 billion in July, marking a record month. [1] Top News: 1️⃣ @Revolut launches euro stablecoin $EURR across three European markets. [2] 2️⃣ Shinhan Financial Group and @Visa partner on stablecoin and future payments infrastructure. [3] 3️⃣ Franklin Templeton and @HashKeyExchange expand tokenised money market fund access in Asia. [4] What’s on your radar this week? Follow us for the latest updates on tokenisation.

HashKey RWA | The Weekly View | August 18-24, 2026 🔝 Weekly view: Tokenisation is moving deeper into mainstream financial markets, as regulatory clarity improves and established asset managers expand blockchain-based fund structures. 📊 Number of focus: 2.4 million RWA holders reached 2.4 million, up nearly 80% from the same period last month. [1] Top News: 1️⃣ SEC proposes Regulation Crypto Assets, including tailored offering exemptions and a conditional safe harbor. [2] 2️⃣ Shinhan Asset Management partners with @solana ecosystem firms to pilot a KRW-denominated tokenised fund. [3] 3️⃣ Franklin Templeton receives SEC no-action relief for blockchain-based recordkeeping across registered funds. [4] 4️⃣ Neuberger and @Securitize launch tokenised high-income fixed-income fund across four public blockchains. [5] What’s on your radar this week? Follow us for the latest updates on tokenisation.

HashKey RWA | The Weekly View | Aug 11-18, 2026 🔝 Weekly view: Regulated tokenised money and market infrastructure continued to advance, driven by institutional stablecoins, CBDC interoperability and evolving regulation. 📊 Number of focus: US$38B Total on-chain RWA value, underscoring continued institutional momentum as the market approaches the US$40B milestone. [1] Top News: 1️⃣ HKDAP launches institutional access, with @HashKeyExchange as an authorised distributor. [2] 2️⃣ Bank of England advances Digital Pound Lab Phase 2, exploring CBDC and stablecoin interoperability. [3] 3️⃣ EU considers updates to MiCA framework for non-EU stablecoin issuers. [4] 4️⃣ @tether says @KPMG_US completed its first full audit of 2025 financial statements. [5] What’s on your radar this week? Follow us for the latest updates on tokenisation.

HashKey RWA | The Weekly View | August 04-10, 2026 🔝 Weekly view: Tokenisation infrastructure continued to advance this week, with developments spanning regulation, capital markets, stablecoin payments and institutional liquidity. 📊 Number of focus: $38 billion Distributed on-chain value of tokenised real-world assets, highlighting the continued growth of tokenised finance. [1] Top News: 1️⃣ Japan’s FSA establishes dedicated Cryptocurrency and Stablecoin Division [2] 2️⃣ @DinariGlobal partners with @circle to expand tokenised stock access for U.S. investors. [3] 3️⃣ @Cloudflare rolls out stablecoin wallet for AI agents to pay for APIs and online content. [4] 4️⃣ @BlackRock expands tokenised cash platform with BSTBL OnChain Shares and BRSRV for stablecoin reserves. [5] What’s on your radar this week? Follow us for the latest updates on tokenisation.

🎙️ What does an end-to-end tokenisation ecosystem look like? HashKey RWA CEO Anna Liu explains how HashKey’s four business pillars work together as a closed-loop ecosystem for institutional on-chain finance, and why programmable assets represent the next stage of tokenisation. Watch more ↓

HashKey RWA | The Weekly View | July 28–August 3, 2026 🔝 Weekly view: This week highlighted continued progress in the infrastructure underpinning institutional tokenisation, from policy development to market implementation. 📊 Number of focus: 41% RWA on-chain asset holders increased 41% month-on-month, marking the largest monthly increase on record. [1] Top News: 1️⃣ South Korea plans a government-backed digital asset bill covering stablecoins and exchanges. [2] 2️⃣ 10 european banks launch RL1 blockchain network for tokenised assets. [3] 3️⃣ BIS-led Project Agorá completes a cross-border tokenised fund transfer pilot involving five central banks and 28 commercial banks. [4] What’s on your radar this week? Follow us for the latest updates on tokenisation.

🎙️ Why did HashKey build a dedicated tokenisation business? HashKey RWA CEO Anna Liu explains why tokenisation is more than a technology. It is the bridge between traditional finance and onchain finance. Built on an end-to-end approach with compliance at the centre, HashKey sees tokenisation as the infrastructure connecting primary markets, secondary markets and Web3 innovation.

💡 What are vaults, and why do they matter? A vault is a programmable, on-chain smart contract that executes a defined strategy and risk framework. The smart contracts accepts virtual assets or tokenised assets, and handles on-chain execution, including deposits, accounting, allocations and selected risk controls. There has been a trend in vaults using tokenised assets. Vaults incorporate tokenised assets into broader investment strategies, while their share tokens add another layer of composability. These vault shares can be integrated into lending markets, such as being accepted as collateral. The development of vaults remain at an early stage. While vaults can support the next generation of asset management through leveraging better infrastructure, there has been recent discussions on how to balance technology innovation and compliance as tokenised assets is increasingly becoming part of vault strategies. [1] We look forward to seeing how the tech evolve and supporting new compliant innovation.

HashKey RWA | The Weekly View | July 21–27, 2026 🔝 Weekly view: This week highlighted the continued integration of tokenisation into mainstream financial infrastructure, from public policy and regulated market infrastructure to retail distribution channels. 📊 Number of focus: 32% RWA on-chain asset holders increased 32% month-on-month, marking the largest monthly increase on record. [1] Top News: 1️⃣ South Korea unveils roadmap for stablecoins, CBDCs and tokenised government bonds. [2] 2️⃣ @HSBC becomes first firm approved to enter the Bank of England’s Digital Securities Sandbox. [3] 3️⃣ @krakenfx plans to expand @xStocksFi with tokenised equities from the UK, Hong Kong and South Korea. [4] 4️⃣ Samsung Wallet will add native stablecoin support, including $USDC. [5] What’s on your radar this week? Follow us for the latest updates on tokenisation.

🎙️ What is changing in the tokenisation market? HashKey RWA CEO Anna Liu discusses how the industry is moving beyond proof of concept. With live regulated products, on-chain settlement infrastructure, and institutions focused on implementation, tokenisation is entering its next phase. Watch more ↓

HashKey RWA | The Weekly View | July 14–20, 2026 🔝 Weekly view: New tokenised investment products, payment infrastructure, and capital market initiatives advanced across Asia, the US, and Europe. 📊 Number of focus: $35B On-chain RWA market capitalization reached a record US$35 billion, while the number of asset holders climbed to over 1 million. [1] Top News: 1️⃣ Lawson to test $JPYC in Japan’s first POS-linked stablecoin payment pilot. [2] 2️⃣ @The_DTCC begins first tokenised stock and Treasury production trades involving @jpmorgan, @BlackRock, and @GoldmanSachs. [3] 3️⃣ The European Central Bank (ECB) has selected 36 payment service providers for the digital euro pilot. [4] 4️⃣ UK aims to become the first major advanced economy to issue a digital sovereign bond by early 2027. [5] What’s on your radar this week? Follow us for the latest updates on tokenisation.

🎙️ Why are institutions choosing Hong Kong for on-chain finance? HashKey RWA CEO Anna Liu explains why institutional adoption depends on more than technology. Legal certainty, regulatory clarity, and a mature financial ecosystem are what make Hong Kong a trusted gateway for on-chain finance. Watch more ↓

🎙️ What does it take to build on-chain financial infrastructure that institutions can trust? HashKey RWA CEO Anna Liu explains that institutional adoption rests on three foundations: legal recognition of digital ownership, a mature financial ecosystem, and a clear regulatory framework that gives institutions the confidence to participate. Watch more ↓

HashKey RWA | The Weekly View | July 7-13, 2026 🔝 Weekly view: Institutional tokenisation advanced across major markets, with progress in issuance, regulation and financial infrastructure. 📊 Number of focus: US$300 billion The total stablecoin market capitalisation has climbed back above US$300 billion, supported by continued growth in transfer activity, active addresses and holder count. [1] Top News: 1️⃣ @HSBC issues first digitally native structured product in Hong Kong. [2] 2️⃣ European Commission considers expanding MiCA to address tokenisation and non-EU stablecoin issuers. [3] 3️⃣ @circle secures final OCC approval for a national trust bank. [4] 4️⃣ Swift launches blockchain ledger for tokenised deposit pilot with 17 banks. [5] What’s on your radar this week? Follow us for the latest updates on tokenisation.

🎙️ Mic on, cameras rolling 👀 Behind the scenes with Anna Liu, CEO of HashKey RWA recording a new session with Mirae Asset Securities, discussing several key topics, including RWA, tokenisation, and the future of on chain finance. Stay tuned for the full interview. ✨

💡 What are Tokenised ETFs, and why do they matter? Tokenised ETFs are a new way to issue, settle and manage ETF ownership using blockchain infrastructure. The investment strategy remains the same, the innovation lies in how ETFs are issued, traded and settled.

HashKey RWA | The Weekly View | June 30-July 6, 2026 🔝 Weekly view: Institutional adoption continued to gain momentum as stablecoin infrastructure expanded in the U.S. and Hong Kong advanced DLT adoption in fixed income markets. 📊 Number of focus: 140+ 140+ organisations joined the OpenUSD Network, underscoring growing industry support for interoperable stablecoin infrastructure. [1] Top News: 1️⃣ FSTB and HKMA outline the next phase of DLT adoption in Hong Kong’s fixed income market. [2] 2️⃣ @stripe, @Visa and over 140 other businesses to launch Open USD stablecoin @openstandard. [1] 3️⃣ @Securitize becomes first to debut shares on @NYSE and onchain. [3] 4️⃣ @RobinhoodApp launches its mainnet alongside 24/7 tokenised stocks and new onchain trading infrastructure. [4] What’s on your radar this week? Follow us for the latest updates on tokenisation.

🔍 Tokenised ETFs are emerging as the next frontier of digital asset innovation, bringing the benefits of blockchain infrastructure to one of the world’s most widely adopted investment products, making ETFs smarter while remaining cheaper and faster. At the Hang Seng Investment ETF GALA 2026, Andy Lee @apwlxyz, Partner at HashKey RWA, shared three pillars for scaling ETF tokenisation: 📖 Rules: Regulation, settlement standards, and interoperability provide the foundation for institutional adoption. ⛓️ Rails: Blockchain infrastructure enabling atomic settlement, programmable compliance, borderless access, and 24/7 trading. 🤝 Resolve to move forward: Most importantly, the commitment to move from evaluation to execution. Innovation only scales when the industry is willing to take the first step.

HashKey RWA | The Weekly View | June 23-29, 2026 🔝 Weekly view: Asia advanced regulated digital money through new legislation, stablecoin launches and CBDC infrastructure initiatives. 📊 Number of focus: 944k 944k on-chain RWA holders reached a new all-time high, up 13.8% month-on-month, marking another record monthly increase. [1] Top News: 1️⃣ @Ripple USD $RLUSD becomes available in Japan through SBI VC Trade after JFSA approval. [2] 2️⃣ SBI Group launches Japan's first trust bank-backed stablecoin, JPYSC. [3] 3️⃣ Bank of Korea advances CBDC deposit token initiative for real-world payment trials. [4] What’s on your radar this week? Follow us for the latest updates on tokenisation.

🏆 HashKey RWA received the Greater Bay Area Web3 Excellence Institution Award (大灣區Web3卓越機構獎) at the 2026 Global Fixed Income & FinTech Institution Leaders Summit (2026全球固定收益與金融科技機構領袖峰會). The award reflects growing recognition from the traditional financial sector for HashKey RWA’s capabilities in asset tokenisation, institutional-grade on-chain infrastructure, and the integration of TradFi with Web3. 🧱 HashKey continues to expand its end-to-end RWA issuance capabilities across the full asset lifecycle. We remain committed to advancing tokenised real-world assets through secure, transparent and compliant infrastructure. Read more m.techflowpost.com/newslette…

HashKey RWA | The Weekly View | June 16-22, 2026 🔝 Weekly view: This week highlighted growing regulatory and infrastructure support for tokenisation. Hong Kong advanced wholesale CBDC infrastructure, while U.S. regulators moved closer to enabling tokenised securities and stablecoins. 📊 Number of focus: US$6.4 billion Reported market capitalisation of tokenised public stocks. [1] Top News: 1️⃣ HKEX and HKMA launch pilot project to enable digital payment solution for derivatives after-hours trading. [2] 2️⃣ U.S. regulators propose customer identification requirements for payment stablecoin issuers. [3] 3️⃣ @coinbase joins tokenised stock race with onchain shares and dividend payments [4] What’s on your radar this week? Follow us for the latest updates on tokenisation.

HashKey RWA | The Weekly View | June 9-15, 2026 🔝 Weekly view: Asia continued to lead tokenisation adoption this week, with progress spanning digital bonds, stablecoins and tokenised commodities. 📊 Number of focus: HK$12 billion HKMC’s inaugural public digital bond issuance, highlighting Hong Kong’s continued push to build institutional tokenised fixed income infrastructure. [1] Top News: 1️⃣ HKMC completes the world’s largest public digital bond issuance at HK$12bn. [1] 2️⃣ Hong Kong signals first regulated stablecoin launches could begin by mid-2026. [2] 3️⃣ KB Kookmin Bank issues $100 million blockchain based digital bond, the first foreign currency fundraising deal of its kind by a South Korean bank. [3] 4️⃣ Japan's three largest banks to jointly issue stablecoins by March 2027. [4] 5️⃣ Singapore bank DBS @dbsbank to offer tokenised physical gold to retail customers. [5] What’s on your radar this week? Follow us for the latest updates on tokenisation.

HashKey RWA | The Weekly View | June 1-7, 2026 🔝 Weekly view: Tokenisation continued moving toward mainstream financial infrastructure, with regulatory frameworks advancing alongside growing institutional activity in tokenised deposits and stablecoin-based settlement. 📊 Number of focus: US$5.5 trillion @Citi estimates the tokenised real-world asset market could reach US$5.5 trillion by 2030, with a bullish scenario projecting up to US$8.2 trillion. [1] Top News: 1️⃣ HKMA launches Tokenised Bond Expert Group to advance digital bond market infrastructure, with @HashKeyGroup as one of its initial member institutions. [2] 2️⃣ @jpmorgan, @Citi and major US banks plan tokenised deposit network for 24/7 settlement. [3] 3️⃣ @stripe, @Visa and @Mastercard back new stablecoin payments platform. [4] What’s on your radar this week? Follow us for the latest updates on tokenisation.

🤖 AI Agents are creating a new economic layer that requires programmable money, real-time settlement, and machine-native financial infrastructure. Two major trends are emerging: 1️⃣ Compliance architecture becomes more suitable for agents, with regulatory frameworks evolving toward on-chain ownership recognition. 2️⃣ Traditional capital is gradually converging with on-chain finance through the tokenisation of assets such as Treasuries and money market funds. Stablecoins may power payments in the Agent Economy. Tokenised RWAs may become its value layer. Read more group.hashkey.com/en/_files/…

📷 Event Recap | The Tokenisation Forge: Building the Institutional Playbook At HashKey RWA, one question we hear often is: “I want to tokenise an asset. Can you show me how?” The reality is that we are moving beyond simply creating tokenised products. The more important question is: what does the playbook look like after launch? Together with @chainlink, @galaxyhq, and APEX Digital, we spent an afternoon with industry practitioners sharing best practices and key considerations for building and implementing institutional tokenisation strategies. A big thank you to all our speakers and participants for making the afternoon both insightful and engaging. We look forward to seeing you at the next one.

HashKey RWA | The Weekly View | May 25-31, 2026 🔝 Weekly view: Tokenised money continued its transition into regulated financial infrastructure this week, as institutions and governments moved from experimentation toward implementation. 📊 Number of focus: 95 nations Global stablecoin market value now exceeds the foreign exchange reserves of 95 nations, reaching USD 318 billion. [1] Top News: 1️⃣ Hong Kong SFC sets framework for relevant stablecoin services by licensed platforms and corporations. [2] 2️⃣ DTCC connects tokenisation service to the Stellar (XLM) blockchain, with launch targeted for H1 2027. [3] 3️⃣ Tether and the Government of Georgia launch GEL₮, the official stablecoin of Georgia. [4] What’s on your radar this week? Follow us for the latest updates on tokenisation.

Still waiting for a sign? 👀🟢

📢 The Tokenisation Forge: Building the Institutional Playbook A closed-door institutional workshop hosted by HashKey RWA, @chainlink, @galaxyhq and APEX Digital, bringing together financial institutions, asset managers, and digital asset leaders to discuss the next phase of compliant on-chain finance and RWA adoption in Asia. 📍 28 May, Hong Kong Luma: luma.com/ybl0azk8 Invite-only.

📷 Panel Recap | At Agentic Finance: When AI Starts Reshaping Capital Infrastructure hosted by @monad, Wang Puyu, Partner at HashKey RWA, joined leaders from Ant Fortune @AntGroup, @DigiFTTech, @StepFun_ai, and @UniFi_Labs for the panel “Agentic Finance Technology Stack and Frontier Research”. Our key takeaway from the panel is that financial products have evolved over the past decade. New technological infrastructure is a catalyst for changing how assets are issued and distributed. Combined with AI agents, how humans make decisions will also likely be reshaped. We look forward to building for the next decade.

📷 Panel Recap | At the FIX Trading Summit 2026, Andy Lee @apwlxyz, Partner at HashKey RWA, joined leaders from @The_DTCC, @Nasdaq, @digitalasset, and @Solidus_Labs to discuss tokenization and the new market structure During the panel, Andy shared perspectives on Hong Kong’s evolving regulatory framework for tokenised assets, the rise of regulated secondary markets, and why interoperability, compliance, and settlement infrastructure will define the next phase of institutional tokenisation adoption.

Thoughts? 👇

The Agent Economy needs machine-readable assets. In our latest whitepaper released at Web3 Festival 2026, we examine how AI agents, on-chain finance, and tokenisation are reshaping value creation and global economic coordination. As autonomous systems begin participating in financial activity, tokenisation becomes the bridge that transforms real-world assets into programmable financial infrastructure. Read the full whitepaper: group.hashkey.com/en/_files/…

📷 Panel Recap | At @Conflux_Network Digital Finance & Ecosystem Conference, Andy Lee @apwlxyz, Partner at HashKey RWA, joined the discussion on Hong Kong’s evolving digital asset ecosystem and the infrastructure needed for institutional adoption. The panel explored compliant tokenisation, ecosystem collaboration, and the role of regulated on-chain finance in the next phase of capital markets.

What does the institutional adoption path for tokenisation actually look like? At @money2020 Asia, Anna Liu, CEO of HashKey RWA, shared her framework on tokenisation models, asset sequencing, infrastructure design, and programmability. Watch the clip 👇

As pioneers in tokenization, we have learnt a lot of hard lessons. On stage at @money2020 Asia in Bangkok, HashKey RWA CEO Anna Liu shared the 4 lessons we learnt on institutional tokenisation. The short answer: tokenisation is not just about putting assets on-chain. It’s about compliance, growth and smart contract programmability.

HashKey RWA | The Weekly View | May 5-May 11, 2026 🔝 Weekly view: A lot of announcements came out of @consensus2026 Miami, especially in tokenisation. As institutional adoption continues to grow, infrastructure will be a key success factor. Additionally, clear regulatory frameworks and government support will be crucial to future development, both of which saw positive momentum over the past week. 📊 Number of focus: $321B US$321B stablecoin market cap, reaching a new all-time high in April and reinforcing stablecoins as the core settlement layer for tokenised finance. [1] Top News: 1️⃣ Japan explores tokenised government bonds with 24/7 trading infrastructure. [2] 2️⃣ DTCC targets July 2026 launch for limited production trading of tokenised RWAs. [3] 3️⃣ State Street and Galaxy launch SWEEP tokenised liquidity fund. [4] 4️⃣ Brazil central bank proposes restrictions on stablecoin use for cross-border settlement. [5] What’s on your radar this week? Follow us for the latest updates on tokenisation.

HashKey RWA | The Weekly View | April 28-May 5, 2026 🔝 Weekly view: This week’s developments reinforced how tokenisation is changing the way money moves. We continue to see good regulatory developments across US and Asia, with specific use cases are starting to shape in various Asian countries. 📊 Number of focus: $30.24B RWA on-chain market cap reached $30.24B as of May 1, 2026, up 4.39% MoM, indicating steady asset growth even as stablecoin market activity cooled. [1] Top News: 1️⃣ U.S. crypto market structure bill moves toward May review as stablecoin oversight, token classification, and ethics debates intensify. [2] 2️⃣ Japan FSA classifies JPYC as a funds transfer business in official materials. [3] 3️⃣ One of South Korea’s largest credit card issuers, Shinhan Card, and Solana Foundation begin testing stablecoin payments for merchant settlement and consumer transactions in South Korea. [4] 4️⃣ NYSE Texas files SEC rule change to enable tokenised securities trading under DTC pilot. [5] 5️⃣ Visa expands stablecoin settlement pilot to nine blockchains, reaching a $7B annualised run rate. [6] What’s on your radar this week? Follow us for the latest updates on tokenisation.

The continued evolution of financial infrastructure is paving the way for greater tech adoption, with the tokenization of Real World Assets (RWA) being a prime example of this movement. 🎙️ At the #Web3Festival2026, Anna Liu, CEO of HashKey RWA, shared her insights on this trend. She emphasized that the industry's growth path is becoming clearer, driven by the expansion of financial infrastructure with blockchain technology and increasing regulatory clarity from jurisdictions worldwide. Anna also noted that HashKey has built an integrated, full-lifecycle solution for asset tokenization, leveraging our deep expertise in RWA. Our platform is designed to support the financial industry in advancing its adoption of blockchain technology and fostering product innovation. Read more about our vision for the future of finance 👉 techflowpost.com/zh-CN/artic…

📍 At HSC Asset Management Conference, our Associate Partner Cleo Cui @blockchenn spoke alongside leaders from @HSBC, Mulana Investment Management, Hivemind Capital and Evident Capital. On a panel titled "When Everything Becomes Liquid" , Cleo discussed the realities and future direction of asset tokenisation. The biggest takeaway - tokenisation is not "liquidity". She notes that tokenisation is a “twinning process”, creating an on-chain representation of an off-chain asset. If the underlying asset lacks depth, transparency, or liquidity, putting it on-chain does not change that. The asset is the foundation, while tokenisation and access are the tools and pipes. Real efficiency comes when the full lifecycle moves on-chain, enabling atomic settlement and true market transformation.

At Money20/20 Asia @money2020 in Bangkok, our CEO Anna Liu delivered a keynote with a clear message: tokenisation in Asia is moving into a more institutional phase. 1️⃣ Asia is moving from pilots towards broader adoption Across Hong Kong, Singapore, Japan, South Korea and Southeast Asia, clearer regulatory frameworks and more practical market infrastructure are beginning to take shape. 2️⃣ Institutional tokenisation starts with discipline It begins with standardised, regulated and in-demand products such as money market funds and ETFs. 3️⃣ Liquidity and compliance are part of the core design Success requires more than technology. It depends on the right assets, licensed distribution channels, settlement infrastructure, legal enforceability and regulatory alignment from the outset. Over time, the market is likely to be shaped by participants that think in ecosystems, not silos.

As RWA moves from proof of concept to real execution and system building. Our CEO, Anna Liu, delivered a keynote at #Web3Festival 2026, addressing the ultimate questions shaping the next phase of RWA. 💡 Key takeaways from her session: 1️⃣ Regulation is shifting from wait-and-see to rulemaking Regulatory frameworks globally are rapidly taking shape and evolving. Hong Kong’s pilot allowing secondary trading of tokenised SFC-authorised investment products on licensed platforms is a clear advancement. The question is no longer if regulation will arrive, but how to build within it. 2️⃣ Going on-chain is a means, not the end The real challenges lie in asset credibility, legal enforceability, and liquidity. Tokenisation must answer a fundamental question: what new value does going on-chain actually create? 3️⃣ RWA is not a product, it is a system It is a system where legal ownership, on-chain representation, and market infrastructure must work together. The next phase of the market will be defined by those who can make this system function end-to-end. HashKey has built a one-stop RWA solution covering the full lifecycle — from compliant structuring and on-chain issuance to distribution, liquidity, and ongoing disclosure. These capabilities have been validated in real market deployments, and will scale beyond Hong Kong to serve APAC and global institutions, forming a key infrastructure connecting markets. Read more m.techflowpost.com/article/3…

From skepticism to integration. 🎙️ At @ETHCapitalHQ Seoul, Andy Lee @apwlxyz, Partner at HashKey Tokenisation, shared his perspectives on institutional adoption of tokenisation. 💡 Key takeaways: • Decentralization ≠ lack of control, it enables verifiable, programmable systems; verifiable control > discretionary control. • Asian regulations are diverse and unique for each country. For institutions to build in the market, regulations needs to work towards a common recognized standard to support future growth. • Integrated, end-to-end platforms will be key to scaling institutional adoption. • The next phase is clear: it’s time to move from experimentation to real-world deployment.