Reported 7 months ago
In the era of Real World Asset (RWA) tokenization for enhanced financial inclusion and cross-border finance, a total potential business opportunity of up to 16 trillion USD globally, six financial institutions in Taiwan, including Taiwan Cooperative Bank, Taipei Fubon Bank, China Trust Bank, Cathay Securities, Cathay Asset Management, and Yuanta Financial Holdings, have been officially designated as pioneers in RWA tokenization by the Financial Supervisory Commission. The focus is on exploring the tokenization of real-world assets like stocks, real estate, metals, and intangible assets using blockchain, cryptography, smart contracts to facilitate digital token representation for easier trading and services, emphasizing the advantages of 24/7 trading, increased liquidity, and regulatory challenges in steering towards a proactive and comprehensive development of financial technology.
Source: YAHOO