The on-chain RWA is currently mainly led by institutions, which is closely related to the characteristics of its underlying assets. Whether it's physical assets like gold, bonds, or real estate, compliant asset reserves and professional custody mechanisms are needed for support.
Unlike meme coins that anyone can participate in, the entry threshold for the RWA track is higher, thus possessing stronger asset security and scalability potential. This institutional characteristic also allows RWA to establish differentiated advantages in asset transparency, compliance frameworks, and risk control.