Caixin: Industry insiders say that the Hong Kong Monetary Authority encourages RWA cases for new energy and shipping trade financing, but does not support real estate projects
ChainCatcher news, according to Caixin, the overseas RWA (Real World Assets) issuance market has recently shown significant activity, but there are multiple concerns behind this boom. In-depth investigations by Caixin reveal that the current RWA market mainly faces three major challenges: uneven quality of underlying assets, disputes over trading structures and pricing mechanisms, and irregularities in cross-border capital flow operations.In terms of domestic RWA practices, the "domestic assets - Hong Kong confirmation - global circulation" model pioneered by Ant Digital Technology has become an industry reference paradigm. It is worth noting that, according to the strict requirements of Hong Kong financial regulators, such products are currently only open to institutional and professional investors, and secondary market trading is explicitly prohibited.Industry insiders say that in terms of underlying assets, the Hong Kong Monetary Authority encourages RWA cases in new energy and trade financing, but does not support real estate projects. Investors are mainly private equity, family offices, and wealth management institutions in Hong Kong, with "international capital being relatively scarce, and Chinese investors finding these projects easier to understand." Additionally, according to Caixin, many RWA projects currently have limited fundraising capabilities, but due to the fast issuance process and low thresholds of RWA, many companies are eager to trace hopes of forming "coin-stock linkage."