PANews reported on October 31 that according to official news, Dr. Xiao Feng, Chairman and CEO of HashKey Group, delivered a keynote speech entitled "On the Chain" and "On the Chain" at SmartCon2024 today, stating that traditional and crypto financial markets will be interconnected through stablecoins (fiat currency tokenized Payfi), ETFs (off-chain securitization of crypto assets), RWA (on-chain tokenization of traditional assets), and STO (on-chain Web3 business tokenization), and these will be carried out through licensed and compliant institutions (on-chain deposits, loans, and foreign exchange transactions).

Dr. Xiao said: "On-chain" mainly comes in three ways: Web2 (data on-chain), DePIN (device on-chain), and DeFi (asset on-chain). On-chain is a path for users to embrace greater value rather than a goal. HashKey Chian, the Ethereum L2 public chain recently released by HashKey, will build a compliant, friendly and innovative ecosystem, allowing traditional financial and Web3 users to share the infinite possibilities and value brought by blockchain technology and applications.