As RWA moves from proof of concept to real execution and system building. Our CEO, Anna Liu, delivered a keynote at #Web3Festival# 2026, addressing the ultimate questions shaping the next phase of RWA. 💡 Key takeaways from her session: 1️⃣ Regulation is shifting from wait-and-see to rulemaking Regulatory frameworks globally are rapidly taking shape and evolving. Hong Kong’s pilot allowing secondary trading of tokenised SFC-authorised investment products on licensed platforms is a clear advancement. The question is no longer if regulation will arrive, but how to build within it. 2️⃣ Going on-chain is a means, not the end The real challenges lie in asset credibility, legal enforceability, and liquidity. Tokenisation must answer a fundamental question: what new value does going on-chain actually create? 3️⃣ RWA is not a product, it is a system It is a system where legal ownership, on-chain representation, and market infrastructure must work together. The next phase of the market will be defined by those who can make this system function end-to-end. HashKey has built a one-stop RWA solution covering the full lifecycle — from compliant structuring and on-chain issuance to distribution, liquidity, and ongoing disclosure. These capabilities have been validated in real market deployments, and will scale beyond Hong Kong to serve APAC and global institutions, forming a key infrastructure connecting markets. Read more