Minsheng Securities: Building a closed loop of stablecoin and RWA ecology, asset chain is expected to usher in the era of Web3.0

Minsheng Securities released a research report saying that the strong combination of government and enterprises has built an ecological closed loop of RWA, a stable currency anchored by China's high-quality assets. The relevant assets on the chain are expected to become the curtain of the era of Web3.0. Starting from the new energy RWA assets of Ant Digital, Longxin Group and GCL Energy, and then to the potential direction of computing power leasing, it will help China's high-quality assets become the core cornerstone of diversified assets on the chain.

At the same time, referring to the development history of overseas stock token issuers such as Robinhood, domestic Internet brokerages, financial technology companies, stock or digital currency exchanges are expected to achieve value revaluation under this wave, and the "license effect" may be the core competitiveness of domestic related manufacturers. Minsheng Securities' main views are as follows:

Stablecoins focus on "fiat currency tokenization", and RWA focuses on "asset tokenization".

Alliance chain→public chain Layer2→public chain Layer1, the three chains are progressive.

Infrastructure construction→liquidity activation→global asset network integration and creation of three steps.

From the United States taking the lead in legislating the Stablecoin Act to the upcoming implementation of the Stablecoin Ordinance in Hong Kong, China, countries around the world are exploring and even embracing the arrival of web3.0 on the policy side; Ant Digits and other leading technology companies continue to help domestic high-quality assets go online through RWA, directly facing new incremental funds on the chain.