As Singapore tightens retail restrictions in the Web3 space, more and more infrastructure builders, RWA platforms, and on-chain settlement services are turning their attention to:

  • 🇭🇰 Hong Kong

  • 🇦🇪 Dubai

  • 🇦🇪 Abu Dhabi (ADGM)

These three regions are becoming key areas for the implementation of CeDeFi, on-chain identity systems, and stablecoin clearing infrastructures:


🇭🇰 Hong Kong: Traditional finance and regulatory policies advancing together

  • Regulators support the exploration of stablecoins and tokenized securities

  • Banks and brokerages have abundant resources, making it easy for institutions to enter

  • SFC has clear compliance requirements but remains cautious towards retail

🇦🇪 Dubai: Rapid innovation speed, dominated by private institutions

  • VARA's regulations are clear, supporting compliance applications from CeDeFi platforms

  • Family offices and private equity funds are active, with offshore wealth thriving

  • There is a problem of fragmented infrastructure, but the speed is extremely fast

🇦🇪 Abu Dhabi (ADGM): Building a global financial operating system

  • Currently piloting DLT settlement systems with international asset management organizations

  • Emphasizing compliance loops such as KYC, custody, and on-chain identity

  • It is a truly 'clearing-type' Sandbox aimed at global capital circulation

In summary:

CeDeFi is not a victory of narrative, but a comprehensive competition of clearing capabilities, identity systems, and fiat currency bridges.

Whoever builds the 'on-chain real settlement stack' first will become the infrastructure provider for the next generation of the global financial system.