Ant Group's Ant Financial Completes First Domestic RWA Based on New Energy Physical Assets in Hong Kong, Powering Ensemble Sandbox Project

Ant Group's Ant Financial Completes First Domestic RWA Based on New Energy Physical Assets in Hong Kong, Powering Ensemble Sandbox ProjectOn August 28, the Hong Kong Monetary Authority (HKMA) announced the first-phase progress of its Ensemble (Sandbox) project. Among them, the first domestic RWA based on new energy physical assets, completed by Ant Financial and Langxin Technology in Hong Kong, was officially announced

Ant Group's Ant Financial Completes First Domestic RWA Based on New Energy Physical Assets in Hong Kong, Powering Ensemble Sandbox Project

On August 28, the Hong Kong Monetary Authority (HKMA) announced the first-phase progress of its Ensemble (Sandbox) project. Among them, the first domestic RWA based on new energy physical assets, completed by Ant Financial and Langxin Technology in Hong Kong, was officially announced. This marks a significant step forward in the application of RWA technology in promoting the development of the real economy and reflects the HKMA's determination to actively promote innovative financial technology.

RWA (Real-World Assets Tokenization) refers to a method of trading ownership of physical assets in digital form (tokens) on a blockchain. Compared to the traditional difficulties in asset verification and trading, RWA can divide physical assets into multiple "on-chain" digital assets, leveraging the interoperability of the global blockchain network to significantly enhance asset liquidity and reduce transaction and financing costs.

The RWA project completed by Ant Financial and Langxin Technology in this instance received support from UBS Hong Kong and raised approximately RMB 100 million in total funding. The project will be used in the energy storage and charging pile industry in the field of new energy, providing construction and operation support for thousands of small and medium-sized energy storage and charging pile operators, contributing to the development of China's new energy industry.

Zhao Wenbiao, CEO of Ant Financial, stated that participating in the Ensemble project and providing technology solutions is a reflection of Ant Financial's active embrace of innovative financial technology. With the support of the HKMA, Ant Financial will continue to participate in various innovative projects and apply its accumulated digital technology to more areas. In the future, Ant Financial will also join forces with more partners to launch a variety of RWA projects, providing technical support for high-quality projects in China and globally, helping them gain more development opportunities.

It is understood that within the Ensemble project, Ant Financial assisted the HKMA in building a tokenized asset platform within the sandbox. This platform provides asset tokenization services and facilitates delivery versus payment (DvP) transactions between traditional assets and tokenized deposits, ensuring that both parties simultaneously deliver assets and funds, with support for both inter-bank and cross-bank transactions.

The Ensemble project is a new wholesale-level central bank digital currency (wCBDC) project launched by the HKMA to support the development of Hong Kong's tokenized market. The project officially kicked off in May 2024, aiming to provide a secure testing environment for financial technology innovations in Hong Kong.

As an independent technology business subsidiary of Ant Group, Ant Financial has been committed to promoting the innovative application of digital technology. In 2023, Ant Financial formally launched its Web3 product and service brand ZAN, serving Web3 institutions, covering areas like Web3 nodes, data, security, and ZK hardware acceleration.

Ant Financial's participation in the Ensemble project and the completion of the first RWA project not only showcase its technical strength in the blockchain and digital asset field but also demonstrate its determination to actively promote the development of the real economy and financial technology innovation. In the future, Ant Financial is expected to continue leveraging its strengths, contributing to the development of Hong Kong's financial technology industry and powering the growth of the digital economy in China and globally.

Ant Financial's RWA Project Powers Real Economy Development and Drives Hong Kong Financial Technology Innovation

Beyond the above, we can further interpret the significance of Ant Financial's RWA project from the following perspectives:

1. Application Value of RWA Technology

The application of RWA technology connects traditional physical assets with digital assets, bestowing new liquidity on real-world assets. In the energy sector, RWA technology can help energy storage and charging pile operators secure rapid financing, driving the rapid development of the new energy industry. Additionally, RWA technology can be applied to other real economy sectors, such as real estate, agriculture, and manufacturing, bringing new development opportunities to these sectors.

2. New Direction for Hong Kong's Financial Technology Development

The Ensemble project launched by the HKMA aims to provide a secure testing environment for financial technology innovations in Hong Kong, promoting the development of Hong Kong's financial technology industry. Ant Financial's participation in this project and its completion of the first RWA project reflect the HKMA's determination to actively promote financial technology innovation, outlining a new direction for the development of financial technology in Hong Kong.

3. Future Development Direction of Ant Financial

Ant Financial's recent development direction has been focused on the application innovation of digital technology. Its participation in the Ensemble project and completion of the first RWA project demonstrate Ant Financial's technical strength in blockchain, digital assets, and other areas, as well as its commitment to actively exploring new business fields, driving technological innovation and real economy development. It is believed that Ant Financial will continue to leverage its strengths and achieve greater breakthroughs in the digital technology field in the future.

Conclusion

The RWA project based on new energy physical assets, completed by Ant Financial and Langxin Technology, is a landmark event in the application of RWA technology and provides new insights for the development of financial technology in Hong Kong. Going forward, RWA technology is expected to be implemented more widely, driving new momentum for real economy development and injecting new vitality into financial technology innovation.

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