China's' wind 'is rising again, can Hong Kong surpass Singapore and return to the Web3 throne in Asia? Recently, the market's attention has been focused on BSC, but there is one important piece of news that everyone may have overlooked, which is that China Taiping Investment Management and HashKey Chain have made a big move! They launched the "CPIC Established MMF" on chain fund in US dollar currency, with a subscription size of up to 100 million US dollars on the first day. Simply put, this is a 'tokenized fund', a digital asset allocation tool specifically designed for institutional investors, also known as RWA, which we often talk about It sounds high-end, but what exactly does it mean? What impact does it have on us ordinary people? Today, break it apart and explain it clearly! 1. Is Hong Kong going to become a testing ground for RWA finance in Asia? The operation of China Pacific Insurance and HashKey this time is actually to tell everyone that we want to be the leader in Asia's compliant RWA. Why does Hong Kong have such potential? Hong Kong used to be a financial hub, with assets under management exceeding $3 trillion by 2023 (data from the Hong Kong Monetary Authority). In addition, recent policy support for blockchain and digital assets has been strong. The case of China Taiping Insurance is like a signal that Hong Kong may really become a "testing ground" for Asian RWAs, allowing more traditional financial products to be "put on the chain"! In contrast, although Singapore and the Middle East are also engaged in digital assets, Hong Kong has the support of large-scale compliance agencies and may run faster. Institutions are the most loyal fans of RWA because they have a large amount of funds and pursue efficiency and transparency while pursuing profits. Therefore, the emergence of RWA is undoubtedly the best asset solution for institutions. These advantages are particularly advantageous for institutional investors (such as large companies and funds) because they have a large amount of funds and pursue efficiency and transparency. The $100 million subscription scale this time also indicates that institutions have begun to seriously enter digital assets! For ordinary people, this may be a signal: Will more institutional funds flow into the cryptocurrency market in the future, driving the entire industry to heat up? Compared to international giants, we are growing rapidly Token based funds also have major players internationally, such as BlackRock's Build fund, which attracted over $240 million after its launch in 2024. Fidelity is also making some related attempts. In fact, compared to these giants, China Taiping Insurance's CPIC Established MMF also has its own characteristics. For example, Taiping Insurance directly chose HashKey Chain, a compliant chain, targeting institutional investors, which can be considered as taking a "compliant+efficient" path. Moreover, Hong Kong's financial environment and policy support make it easier to implement and promote. But one thing is that China Taiping Insurance's fund currently only serves institutions, and ordinary retail investors cannot play it yet, with limited popularity. BlackRock is already exploring more complex on chain strategies, such as automatic reinvestment, while China Taiping Insurance has not yet seen similar gameplay. In the future, I think this kind of on chain fund can definitely try DeFi's combination strategy, such as automatic reinvestment and income aggregation, to gather different sources of income together and make fund efficiency higher. Will the entry of traditional funds make stablecoins and compliance chains more popular? The $100 million on chain listing by China Taiping Insurance may not be just an isolated case, but a microcosm of the integration of traditional finance and cryptocurrency markets represented by Hong Kong. The influx of traditional funds may lead to a closer integration between stablecoins like USDT and compliant chains like HashKey Chain. Because institutional investors generally prefer stablecoins because they have low volatility and can serve as a 'safe haven'. The compliance chain can provide a transparent and efficient trading environment, and the combination of the two is naturally very popular among institutions. In the future, we may see more traditional funds enter the on chain market through stablecoins, and even promote the application of stablecoins in the real world, such as cross-border payments. What does it have to do with us ordinary retail investors? You may think that 'institutional level products' are too far away from us ordinary people, but in fact, they are also related to the investment portfolios of individual investors. Firstly, if this tokenized fund is successful, it may open up retail channels in the future for us ordinary people to use. The ultimate target audience for RWA will definitely be the general public, which is also the key to the success of RWA. In addition, the RWA market is growing rapidly. Monkey Brother has checked some data and found that the global RWA market will grow by nearly 50% in 2023. Hong Kong is expected to have tokenized assets worth over 10 billion US dollars by 2025. This means that in the future, there may be more assets (such as real estate and art) on the blockchain, and retail investors can also participate through small investments and get a share of the pie. HashKey, as a tentacle that extends from Hong Kong to the crypto world, should pay attention to its actions because every little bit in Hong Kong will gradually affect the development of the crypto market. The 100 million US dollars raised by China Pacific Insurance this time may be a new starting point for Hong Kong RWA to enter the global market. Anyway, I still look forward to more power from the East entering the cryptocurrency market, as only with more influential participants can the market create more opportunities.