PANews reported on April 21 that the Hong Kong Ta Kung Pao recently published an article by OKG Research, pointing out that the current RWA ecosystem faces the bottleneck of "mainstream assets becoming silent once they are put on the chain". Although standardized assets such as US Treasury bonds provide a certain starting point for RWA, their on-chainization is more of a technical package and has not released structural value. The key to future RWA lies in activating "silent assets" that have long been outside the traditional financial system, difficult to value, and lack liquidity, and realizing their value expression and free circulation through on-chain, creating new market momentum. This will make RWA an opportunity window for funds willing to take risks to invest, attract more types of funds to the chain, and achieve a dual qualitative change from the "asset side" to the "fund side".

OKG Research also suggested that as a global RWA policy-friendly highland, Hong Kong should actively deploy pilot projects in the direction of non-standard assets and data assets to create a global testing ground for "multi-asset structured RWA", rather than just being an issuance center and channel relay in the RWA value chain.