COTI - Plume

RWA: Building a Public Ledger World for Real Assets Recently, many centralized institutions and decentralized projects have begun to explore the RWA track. Currently, the RWA market size has reached 36.5 billion USD, with a year-on-year growth of about 60%, covering various fields such as private credit, US Treasury bonds, commodities, real estate, and stock securities. Although RWA still faces many challenges, the participation of traditional financial giants and the active exploration by governments around the world bring hope for solving the hollowing out and scaling issues of blockchain finance. RWA, as a bridge connecting traditional assets and blockchain finance, is expected to become the "sword bearer" of this parallel world. It can not only reshape traditional finance but also bring opportunities from the real world onto the chain. We look forward to RWA achieving global borderless asset investment and financial expression, allowing investors to participate in various asset investments across borders at any time. RWA has the potential to build a public ledger based on real assets.

The new DeFi era has arrived: RWAFi and stablecoin payments have become new opportunities. Since the DeFi Summer of 2020, AMM, lending protocols, derivatives trading, and stablecoins have become the core infrastructure of the cryptocurrency trading space. After four years of development, these sectors have gradually matured, and growth has hit a ceiling. After the 2024 U.S. presidential election, the compliance process in the cryptocurrency industry accelerates, bringing new opportunities for the industry. The integration of traditional finance and DeFi speeds up: physical assets ( RWA ) evolve from simple tokenization to yield-generating stablecoins, becoming a new growth engine for DeFi. At the same time, the strategic position of stablecoins in international trade is elevated, and payment infrastructure continues to prosper. Traditional financial giants accelerate their layout, injecting more possibilities into the industry. A new batch of unicorns in the cryptocurrency trading sector is brewing. They will adapt to regulatory changes, leverage traditional financial integration and technological innovation, explore new markets, and drive the industry forward.

On July 3, 2025, Hong Kong held a forum focusing on new policies to discuss the integration of TradFi and Decentralized Finance, as well as the digitalization of real-world assets. Wu Jie, a market maker, emphasized the importance of both Compliance and innovation, launching the "RWA Bridge Program" to build a bridge between traditional finance and Web3, promoting asset on-chain and compliant development, and helping Hong Kong to take a leading position in the global Web3 field.

Challenges and Opportunities Facing Encryption Infrastructure The cryptocurrency infrastructure sector is experiencing significant market fatigue. After years of rapid growth, the valuations of infrastructure projects are shrinking, and investors are becoming more cautious. This reflects the market's increasing maturity, where mere technological innovation is no longer sufficient to achieve high valuations. A key dilemma facing current infrastructure projects is that most provide similar functionalities with minimal differentiation. Although there have been technological advancements, there has yet to be a breakthrough use case that supports entirely new categories of applications. The ecosystem struggles to provide enough appeal for established Web2 platforms to migrate to the blockchain. Aside from decentralization, these platforms have little reason to fundamentally change their existing operational models. This fundamental adoption gap has led to trading and speculation becoming the dominant applications of most infrastructure layers, limiting the potential for transformation in the field. Many infrastructure projects are too focused on forward-looking technology.

Crypto market weekly overview (4.20—4.30) Market View macroeconomic liquidity Recently, the U.S. stock market has experienced one of the most severe adjustments since the pandemic. The softening of expectations for reciprocal tariffs has boosted market sentiment, and signals of a bottom in the U.S. stock market have already emerged, but they have not yet fully established. The crypto market has rebounded following the fluctuations of the U.S. stock market.