Minsheng Securities: Building a stablecoin-RWA ecological closed loop, and the listing of related assets on the chain is expected to become the curtain of the Web3 era

According to HT's financial report, Minsheng Securities released a research report stating that the strong collaboration between government and enterprises has constructed a stable coin ecosystem—RWA anchored by high-quality Chinese assets. The on-chain process of related assets is expected to usher in the Web3 era. Starting from the new energy RWA assets of Ant Digital Technology, Longsine Group, and GCL Energy, and potentially extending to computing power leasing, this will help Chinese high-quality assets become the core cornerstone of diversified on-chain assets. Meanwhile, by referencing the development trajectory of overseas stock token issuers like Robinhood, domestic internet brokers, financial technology companies, and stock or cryptocurrency exchanges are likely to achieve value re-evaluation under this trend, with the "license effect" potentially being the core competitive advantage for domestic related manufacturers.