币盈Anna

On April 22, analyst Tim Warren called out four institutions—BlackRock, JPMorgan, DTCC, and Goldman Sachs. He mentioned that these four Wall Street giants are actively building infrastructure for on-chain treasuries, real estate, and bonds. The term he used was 'supercycle'.
This isn't just talk, nor is it a vision. These four institutions aren't just doing research, checking reports, or waiting for the next big trend. They've already taken action. BlackRock has ramped up its BUIDL fund to about $2.85 billion, launching on Uniswap to open up liquidity for institutional-grade RWA assets in a permissionless manner. JPMorgan is expanding its blockchain-based infrastructure usage. DTCC received a no-action letter from the SEC, starting to step into the space for tokenized asset custody and settlement. If it were just talk, it would be a regular industry commentary. But with all four pushing forward on the 'pipeline laying' level simultaneously, the gravity of this situation is entirely different. Breaking it down, what are the four giants laying down? 🔍 Tim Warren's report didn't detail what each is doing, but piecing together public information, the layout paths of these four giants are already very clear. BlackRock is paving the way on the asset management side 💼. The size of the BUIDL fund already speaks volumes—it's grown 65% this year.

On April 25, Hong Kong's Financial Secretary Xu Zhengyu made an authoritative statement regarding the digital asset regulatory framework 🎙️. This time, he used a term that had not been used before - 'closed-loop system'.
According to Xu Zhengyu, Hong Kong has always adhered to the international regulatory principle of 'same business, same risk, same rules' ⚖️, establishing a complete closed-loop system of 'legislation - approval - regulation - risk control' in the digital asset space, making it one of the markets with the highest regulatory transparency and compliance in Asia.
Breaking it down, this closed-loop is supported by two main pillars 🏛️: first, the VATP licensing system for virtual asset trading platforms, which falls under the AMLO framework and is strictly approved by the Securities and Futures Commission, covering all aspects of trading, custody, risk control, etc.; second, a specialized regulatory system for stablecoins, centered on the stablecoin regulations effective from August 2025, managed by the Monetary Authority, which sets clear hard requirements like 100% reserves, anti-money laundering, and risk reserve funds.

On April 23, 2026, the Hong Kong Web3 Carnival officially wrapped up 🎬. Over four days, nearly 200 keynote speeches 🎤 and more than 113 side events 📋 saw over 10,000 attendees from more than 30 countries and regions flock to the exhibition center 🏛️.
As the buzz from the carnival fades, a more pressing question arises: beyond the speeches and booths at the venue, how far has Hong Kong really progressed in building its Web3 ecosystem?
On April 24, an article from (Daily Economic News) 📰 provided a systematic review of the regulatory innovation signals released during the carnival. The core focus was summarized in the phrase 'risk controllable, application innovation', specifically honing in on three key areas.

Xiao Feng summarized the viewpoints of all guests over the four-day Carnival in three words: integration, application, safety.

He stated that the integration of AI, blockchain, and cryptographic algorithms will be the main trend in the future, with new ideas and opportunities emerging at the intersection of these three innovations; tokenization will act as a catalyst for native Web3 applications, with blockchain serving as the next-generation financial infrastructure, giving rise to on-chain finance; DeFi security, blockchain security, and computational security will be the 'ceiling' for future innovation and entrepreneurship.
Three words, twelve years of experience. It's not the frenzy of 'the bull market is here', nor the hype of 'Web3 is going to disrupt everything', but a calm understanding of the clear integration of technology, practical applications, and safety benchmarks.

The industry is shifting from 'can it grow' to 'how to build', focusing on tech ecosystems, compliance frameworks, and integration with the Asian market.
1. Heavy industry positioning in the early phase (Core recap of the first two days of the carnival)
1. Policy positioning
Financial Secretary Chen Maobo stated in the opening speech of the carnival that the fusion of Web3 and AI is a 'game changer', while also highlighting three core challenges the industry is facing.
2. Industry perspectives
HashKey Group Chairman Xiao Feng gives a deep dive into AI micro-payments: AI Token isn’t a currency, it’s a production asset. The current banking payment system can't handle the micro-payment demands in AI scenarios.

Yesterday at the Hong Kong Web3 Carnival, He Yi took the stage.
It's not that kind of scripted sharing.
It was a real and in-depth conversation for over an hour.
After the conversation, I had one feeling...
Binance is no longer the Binance you thought it was.
Let me first say the most explosive line.

He Yi said that Binance's goal,
is to grow from 300 million users to 3 billion.
300 million to 3 billion, tenfold.
What does this number mean?
It means Binance's competitors,
It's no longer like other exchanges.
It aims at the position of global financial infrastructure.
Many people still define Binance as 'crypto exchange'.

On April 20, the opening day of the 2026 Hong Kong Web3 Carnival 📅, a message more persuasive than any speech came from the venue 📢—— Hang Seng Investment, HSBC, and HashKey Exchange joined forces 🤝 to officially launch the 'Hang Seng Gold ETF Tokenized Non-listed Category', trading code HSGLD.
This is not a concept from a PPT 📄, nor a test in a sandbox 🧪. This is Hong Kong's first physically backed gold ETF tokenized product 🥇, fully compliant with trading and custody in Hong Kong 🔐, officially launched today on the HashKey Exchange wealth management channel ✅.
At the carnival, HashKey Exchange Group CEO Zhu Haiyang delivered a keynote speech focusing on three key topics: RWA, payments, and Asian connectivity 🎤, announcing this news. His tone was flat, but the information was substantial 📊—— Hang Seng is responsible for issuance, HSBC takes on five roles as the tokenization agent, gold trader, gold custodian, trustee, and transfer agent 🔑, while HashKey is responsible for distribution 🛒.

On April 20, 2026, the Financial Secretary of Hong Kong, Paul Chan, delivered the opening speech at the 2026 Hong Kong Web3 Carnival.
He pointed out that 2026 is an important turning point, as Web3 is maturing, and financial institutions are increasingly using digital assets and tokenization to enhance efficiency, reduce costs, and shorten settlement times. The rise of AI agents this year is another notable milestone, as the intersection of artificial intelligence and technologies like Web3 is changing the game. He further noted that the combination of the two will elevate transaction efficiency to a new level, covering multiple fields such as finance, trade, wealth management, supply chain operations, and logistics, creating vast new opportunities, but also bringing challenges that need to be addressed.

On April 19 at 14:00 ⏰, the themed forum 'Crypto 2026: From Cryptocurrency to Smart Economy', sponsored by Monera Digital and co-initiated by ChainCatcher and RootData, officially opened in Hong Kong 🎤.
As an important peripheral activity of the Hong Kong Web3 Carnival, this forum focuses on the paradigm shift under the deep integration of AI technology and the crypto network 🤖⛓️, engaging in in-depth discussions on cutting-edge tracks such as AI Agent economy, smart payments 💳, RWA, and crypto infrastructure. Many partners including Tencent Cloud ☁️, HashKey Chain 🔗, Alchemy Pay 💸, Kite AI, Sentient, Sign, Predict.fun, Monad, Brevis, UXLINK, OneBullEx, SVP Chain, OmenX jointly support this event 🤝. Only 9 days 📅 since the first batch of stablecoin licenses from the Monetary Authority, this is the industry's first public reveal of the cards after the licensing 🃏.