Currently, the two fastest-growing sectors in #Web3 are one focusing on compliance with #RWA and the other on #Payfi. Coincidentally, we have investments in both directions, so we are researching and paying close attention to them. Today, I saw that #OKX also launched its own #Payfi product, which is visionary and well thought out.

In previous articles, I proposed a bold hypothesis: 'Three years from now, there will only be two types of cryptocurrency exchanges: one type will still be the traditional single cryptocurrency asset exchanges; the other type will be new exchanges that have U.S. stocks + U.S. bonds + traditional financial derivatives + cryptocurrency assets.'

I have also discussed that the core of the #Payfi layout is to stimulate the vast potential funds in the Web3 credit market. The essence of the rapid development of modern Web2 finance is derived from the prosperity of credit, while what Web3 lacks the most is an on-chain credit system. #Payfi is the key to this link, and this on-chain credit system is closely related to the development of #RWA. Whoever can become China's credit center in the Web3 field, akin to America's FICO, Equifax, Experian, and TransUnion, will dominate the future of Web3 consumer finance and inclusive finance.

OKX has recently made rapid strides on the compliance path, especially with the recent launch of products in the U.S., which is significant. This time, #Payfi further extends the moat of the cryptocurrency trading platform.

From CEX to chain (OKX = OKX + X Layer), and then to payment, this is a very clear closed loop:

• Users buy coins with #OKX;

• Coins enter the wallet (non-custodial);

• Low-cost payments are realized through X Layer;

• Payment records are written on-chain, creating more native on-chain behaviors and achieving Web3 on-chain credit data;

• The future of Web3 on-chain credit can provide more diverse financial services, such as the development of consumer finance and inclusive finance.

• The aforementioned financial closed loop feeds back into the #OKX ecosystem.

This is a closed loop that many other exchanges want to achieve but have not fully realized yet. Now #OKX is making significant progress, which is worth looking forward to.

📝 To summarize why this step by #OKX is significant:

• It truly begins to create user-end products;

• It turns payment into a reality that can be used "today";

• It empowers its chain, creating native activity and an on-chain credit system;

• It provides a strong growth flywheel (payment -> wallet -> on-chain behavior -> OKX ecosystem)

👇 The image below shows the current #Payfi ecosystem.

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