
HashKey RWA CEO Anna Liu: RWAs Move Toward Scalable Implementation; HashKey’s Five Core Capabilities Deliver an “All-in-One Solution”
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HashKey RWA CEO Anna Liu: RWAs Move Toward Scalable Implementation; HashKey’s Five Core Capabilities Deliver an “All-in-One Solution”
Anna points out that each evolution of financial infrastructure is often not driven by the failure of the old system, but rather by new technologies enabling what was previously impossible.

On April 21, Anna Liu, CEO of HashKey RWA, delivered a keynote speech titled “The Ultimate Q&A on RWAs: Starting Here” at the main venue of the 2026 Web3 Festival. She stated: “The essence of RWAs is not a single product innovation, but rather a natural extension of financial infrastructure.”
Anna pointed out that each evolution of financial infrastructure typically does not occur because legacy systems have failed, but rather because new technologies make previously impossible tasks feasible. Distributed ledger technology (DLT) is providing precisely such a new possibility—enabling asset issuance, transfer, settlement, and ownership recording to be performed on a single, open, transparent, and programmable infrastructure. She emphasized that this is not about disrupting traditional finance, but rather extending it under the impetus of new technologies.
As this infrastructure gradually takes shape, global regulatory frameworks for tokenized assets are also accelerating their implementation, offering the industry a clearer development path. A recent example is the Securities and Futures Commission (SFC) of Hong Kong’s announcement on April 20 to pilot secondary-market trading of tokenized SFC-authorized investment products on licensed virtual asset trading platforms—a clear reflection of this trend. Anna noted that, as rules become increasingly defined, industry focus is shifting from “whether market access is possible” to “how to issue efficiently” and “whether sufficient market absorption capacity exists.” Issuance capability and liquidity absorption capacity are thus emerging as critical thresholds for successful RWA project deployment.
Anna further explained that RWA issuance is fundamentally a systemic undertaking involving multiple stages—including asset selection, legal structuring, on-chain issuance, distribution and circulation, and post-issuance management. The absence of any one stage makes sustainable market formation difficult. Drawing on practical experience from multiple real-world projects, HashKey has developed an end-to-end, one-stop RWA issuance solution covering the full lifecycle of RWAs, anchored in five core capabilities:
1. Compliance-first issuance framework design: First define the asset-holding structure and token rights attributes, align them with cross-jurisdictional regulatory requirements, and establish a compliance framework before proceeding to technical design;
2. On-chain technical support: Leveraging HashKey Chain, encode KYC/AML, investor suitability, and transfer restrictions into smart contracts to enable automated compliance enforcement;
3. End-to-end issuance services: Providing comprehensive support—from due diligence and title verification to token issuance and subscription;
4. Trading and liquidity management: Driving continuous synergy between primary issuance and secondary-market liquidity via licensed trading platforms and distribution networks;
5. Disclosure and ongoing monitoring: Enabling on-chain updates of asset data and standardized disclosures to support full-lifecycle project management.
Anna stated that these five capabilities have already been validated in real-market deployments. Going forward, this system will serve not only local Hong Kong asset issuers but also institutional investors across Asia-Pacific and global financial institutions—acting as vital infrastructure bridging diverse markets.
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