Ant Digital Technologies hosted the Trust Bridge Forum at Hong Kong Fintech Week, bringing together key industry leaders and experts to discuss the opportunities and challenges presented by real-world asset (RWA) tokenization.
Mr. George Chou, Chief Fintech Officer of the Hong Kong Monetary Authority (HKMA), delivered the opening remarks, highlighting HKMA’s commitment to driving fintech innovation, particularly through initiatives like Project Ensemble.“The HKMA recognise that CBDCs have the potential to unlock unrealised economic value by transforming the ways we transact and the systems we transact on,” stated Mr. Chou. “Collaboration between the public and private sectors is crucial to success. We look forward to continuing collaboration with the world and all relevant industry participants.”
Dr. Ying Yan, Chief Scientist at Ant Digital Technologies, provided insights into the evolution of Web3 technology and AntChain’s trusted digital-twin technology which is centered around blockchain with “HOU” architecture to support large-scale, high-activity transactions. While many other core technologies (e.g. distributed key management, ZKP and smart contract security) are developed to addresses the real-world challenges of security and trust. Dr. Yan emphasized the importance of ecosystem development, highlighting their open lab and cloud services to foster collaboration and innovation.
During the event, the “Dual Chains and One Bridge” solution was unveiled. The solution aims to bridge the gap between traditional finance and blockchain technology, empowering real-world assets through digitization and streamlined cross-border transactions.
Cobe Zhang, Head of Web3 Product at Ant Digital Technologies, explained that the “Dual Chains and One Bridge” architecture comprises an “Asset Chain,” a “Transaction Chain,” and the “AntChain Trusted Cross-Chain Bridge.” The Asset Chain can digitize physical assets, transforming them into tradable financial products. Meanwhile, the Transaction Chain focuses on tokenizing funds, particularly those from traditional financial institutions, enabling efficient flow and trading through blockchain technology. This allows for seamless cross-border RWA issuance and trading, specifically targeting Hong Kong’s financial market.
Mr. Vincent Lau, Global Head of Digital Money at HSBC, shared a commercial bank’s perspective on tokenization. “We are witnessing a shift in tokenization interests from virtual or crypto assets to real-world assets. This trend has the potential to unlock new opportunities for asset tokenization and settlement,” said Mr. Lau. He introduced HSBC’s tokenized deposit use cases and its active participation in various tokenization projects globally, emphasizing the importance of public-private partnerships and building a robust ecosystem.
The panel discussion, moderated by Zhuoqun BIAN, CFO of Ant Digital Technologies, featured insights from industry experts, including Yan WANG, Executive Director of the Department of Debt Financing at CITIC Securities, Alex ZHANG, CEO of Pharos, and Gavin WANG, Chief Investment Officer of SNZ Capital. The panelists discussed the challenges and possibilities of aligning tokenization with traditional finance, as well as the potential for tokenized assets to drive the next phase of growth in the Web3 ecosystem. The conversation highlighted the potential for RWA tokenization to unlock liquidity for a vast array of assets and transform the financial landscape.
“RWA is the key to unlocking a new world,” said Zhuoqun BIAN, “and I hope more people will contribute to this endeavor and co-create the future together.”
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