Zheshang Securities: The regulatory difficulties brought by RWA may lead to the expansion of US dollar credit in stages
By: odaily.com|2025/07/21 08:11:49
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Odaily News Zhejiang Securities released a research report saying that the macro impact of RWA (real world assets) also lies in creating a global capital market on the blockchain, accelerating the replacement of traditional finance by on-chain finance, and may lead to further expansion of US dollar credit in stages. RWA, stablecoins and decentralized finance (smart contracts) mirror the investment targets, legal tender, and financial intermediary functions in the traditional financial system on the blockchain. The three work together to form a new financial closed loop on the blockchain. In the long run, the RWA on-chain mechanism is a potential challenge to traditional financial institutions, including banks, securities firms, insurance, and exchanges. (Jinshi)
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