HashKey RWA is heading to Lisbon. 🇵🇹 Our Partner, Andy Lee @apwlxyz, will be at several events, and we look forward to engaging with industry peers on RWA tokenisation and the development of institutional on-chain capital markets. 📍 Alpaca Partners Conference | Oct 26–28 📍 Stellar Meridian | Oct 28–29 See you in Lisbon.

HashKey RWA | The Weekly View | October 12-18, 2026 🔝 Weekly View: Asia advanced tokenised finance, while U.S. tokenised-equity plans faced pushback and stablecoin payments gained momentum. 📊 Number of Focus: US$482 billion Stablecoin payments reached US$482 billion in the first nine months of 2026, up 45% from a year earlier, even as circulating supply stayed flat. [1] Top News: 1️⃣ Deutsche Bank targets Asia crypto custody expansion in 2027 as its German launch nears. [2] 2️⃣ South Korea moves to open bond and fund tokenisation, proposing a KRW 100m annual net-buy cap for retail OTC investment. [3] 3️⃣ Robinhood explores a tokenised actively managed ETF with T. Rowe Price. [4] 4️⃣ Multiple companies object to being part of the OKX–ICE tokenised-stock TSV plans, testing the SEC's tokenised-equity framework. [5] What's on your radar this week? Follow us for the latest updates on tokenisation.

24/7 trading is coming, but the market infrastructure around it still has work to do. At The Capital Summit × @AsiaStablecoin Conference in Singapore, Andy Lee @apwlxyz, Partner at HashKey RWA, shared his view on the shift towards around-the-clock markets. From settlement and price discovery to capital formation, key pieces still need to evolve. But the direction is clear, and 2027 could be an interesting year for tokenised markets.

HashKey RWA | The Weekly View | October 5-11, 2026 🔝 Weekly View: Asia advanced regulated tokenisation rails while the EU kept its digital euro on a 2029 path, and private-market access moved further onchain. 📊 Number of Focus: US$2.3 billion (as of Jul 31, 2026) The IMF's estimate of the tokenised-stock market, with over half of trading outside the U.S. market hours. [1] Top News: 1️⃣ Hong Kong to table a bill licensing virtual-asset dealing, custody, advisory and management services by year-end. [2] 2️⃣ ECB says the digital euro will strengthen European banks' competitiveness, targeting a 2029 launch. [3] 3️⃣ Ondo Finance launches Ondo Private Markets, bringing tokenised pre-IPO private-company exposure onchain with 24/7 trading. [4] 4️⃣ Standard Chartered's Singapore branch plans crypto, stablecoin and tokenised-RWA custody for institutional investors. [5] What's on your radar this week? Follow us for the latest updates on tokenisation.

At The Capital Summit × @AsiaStablecoin Conference in Seoul, Andy Lee @apwlxyz, Partner at HashKey RWA, joined the discussion on “Exotic Asset Tokenization: The Asset Classes Asian Investors Will Buy Next.” Three key takeaways from the discussion: 🇰🇷 New types of assets: Korea’s rich cultural economy, including K pop and entertainment, is creating new possibilities for bringing cultural assets onchain. 🌏 From local assets to global access: With Korea’s tokenised securities framework advancing towards 2027, market participants are exploring how experiences from markets such as Hong Kong could help bring Korean assets to a broader global investor base. 🔄 Beyond issuance: Bringing assets onchain is only the beginning. How those assets are used, traded and incorporated into portfolio allocation will be equally important as the market develops.

A regulatory framework is only the beginning. Liquidity has to be deliberately built. At STO Summit 2026, part of Korea Premium Weeks 2026 co-hosted by Korea’s Financial Services Commission (FSC) and Korea Exchange, HashKey RWA CEO Anna Liu delivered a keynote titled “Building Tokenised Securities: From Framework to Market”. As Korea prepares for its Token Securities Act to take full effect in 2027, Anna highlighted that the focus needs to go beyond issuance to how money and securities actually meet on-chain from day one. That means building the funding side and asset side together, with liquidity designed into the market from the start. Read more panewslab.com/zh/articles/01…

HashKey RWA | The Weekly View | September 28-October 4, 2026 🔝 Weekly View: Asia led tokenisation developments this week, with progress across digital bonds, tokenised securities and stablecoin infrastructure. 📊 Number of Focus: HK$20 billion The Hong Kong SAR Government issued approximately HK$20 billion in digital green bonds, marking the world’s largest digital bond offering to date. [1] Top News: 1️⃣ Hong Kong issues record HK$20 billion in digital green bonds, introducing HKD tokenised deposits for settlement. [1] 2️⃣ HSBC names its forthcoming stablecoin “HSBC RedCoin”. [2] 3️⃣ South Korea proposes expanding tokenised securities framework to stocks and bonds. [3] 4️⃣ Kakaopay Securities and Ondo partner to explore global distribution of tokenised Korean equities. [4] What’s on your radar this week? Follow us for the latest updates on tokenisation.

At @0xEastPoint: Seoul 2026, Andy Lee @apwlxyz, Partner at HashKey RWA, joined representatives from Korea Investment Management, Hanwha Asset Management, Franklin Templeton and others to discuss the next phase of RWAs. Andy highlighted that tokenisation is not about replacing the existing financial system, but building a new financial layer alongside it. While still early, institutional participation is already growing. Regulation is advancing too, with Korea’s new security token framework set to take effect in 2027. We look forward to progressing with our institutional partners on what’s next.

Tokenising equities is only the first step. The bigger challenge is building the market around them. At the Equity Tokenisations’ Next Wave: From US Stocks to the World panel at the 12th Global Blockchain Summit @festival_web3, HashKey RWA CEO Anna Liu joined representatives from @Ondo, @CantonNetwork and @BlackRock to discuss the next phase of equity tokenisation. The message is clear. Tokenisation is moving beyond issuance. The ability to connect onchain networks with traditional market infrastructure, while addressing liquidity, cost and institutional risk management, will be key to broader institutional adoption.

HashKey RWA | The Weekly View | September 15-21, 2026 🔝 Weekly View: Regulation and infrastructure took centre stage this week, with major developments across Hong Kong and the U.S. shaping the next phase of tokenised finance. 📊 Number of Focus: 5 Hong Kong unveiled its first Five-Year Plan, placing digital assets and tokenisation within its longer-term financial development strategy. [1] Top News: 1️⃣ Hong Kong unveils its first Five-Year Plan and 2026 Policy Address, advancing tokenised markets and CBDC settlement. [1] 2️⃣ SEC issues “Innovation Exemption” to facilitate on-chain trading of tokenised U.S. stocks. [2] 3️⃣ Ondo becomes the first tokenisation platform to join DTCC’s Fund/SERV. [3] 4️⃣ European Central Bank opens merchant applications for its upcoming digital euro beta pilot. [4] What’s on your radar this week? Follow us for the latest updates on tokenisation.