Wu learned that, according to Zhitong Finance, Minsheng Securities released a research report pointing out that the closed-loop ecosystem constructed by stablecoins and RWA is expected to be a key starting point for the dawn of the Web3.0 era. With companies like Ant Group, Longxin Group, and Xiexin Energy pushing to put new energy assets on-chain, future scenarios like Computing Power leasing are also expected to be included in the on-chain asset system. The report believes that stablecoins focus on fiat tokenization, while RWA focuses on asset tokenization, which can provide investors with low-risk, stable return on-chain financial products; at the policy level, the legislative process for stablecoins in Hong Kong continues to advance, and the market is expected to benefit from the global trend towards clearer regulation. The report also pointed out that the benefiting zones include asset on-chain parties, trading platforms, internet brokerages, and licensed fintech companies, combined with domestic compliance advantages, the "license effect" may become the core of industrial competitiveness.