#RWA热潮 In recent years, RWA (Real World Assets) has become a new trend in the cryptocurrency industry. As DeFi matures, the market has started to focus on how to tokenize real assets such as real estate, bonds, and notes to bring them on-chain, achieving the integration of off-chain assets and on-chain finance. This not only brings higher transparency and efficiency to traditional finance but also injects stability and liquidity into the blockchain ecosystem. The tokenization of assets such as U.S. Treasury bonds and mortgage-backed securities (MBS) has gradually taken shape, attracting institutions including BlackRock and Citigroup to enter the market. The development of RWA is expected to promote a deep integration of traditional finance and crypto finance, becoming an important engine for the next bull market.