The US Genius Stablecoin Act has been implemented, and Hong Kong's Stablecoin Ordinance takes effect on August 1, marking rapid development in the RWA sector. RWA public chain leader Plume announced the successful tokenization of a money market fund from China Merchants Bank International, becoming the first fund of its kind to be recognized by both Hong Kong and Singapore regulators, proving that institutional-level financial products can operate compliantly on public chains. The project features advantages such as cross-chain deployment, seamless conversion between fiat and stablecoins, and on-chain liquidity management, setting an example for the integration of TradFi and DeFi. Investors believe this solidifies Plume's position as a trusted network for institutions, potentially attracting participation from larger regulatory frameworks such as the EU and the Federal Reserve, and may become a turning point in the RWA field.