PANews and Bullish joint roundtable: Crypto market development after Bitcoin ETF, how real-world assets enter Web3

php Editor Banana brings you the latest news: PANews and Bullish jointly held a roundtable to discuss the development of the crypto market after Bitcoin ETF and how real-world assets enter Web3. This joint event brings together industry experts to provide in-depth analysis and forward-looking prospects, which is of great significance to the development trends of the encryption market and Web3. Stay tuned for more exciting content!

2024 is destined to be a colorful year in the narrative of the encryption industry. At the beginning of the new year, the U.S. SEC approved the applications for 11 Bitcoin ETFs. With the legal entry of asset management giants such as BlackRock and Fidelity Capital, the price of Bitcoin has also been soaring, successfully exceeding US$57,000.

On the afternoon of February 27, in Hong Kong, another hot spot for encryption compliance, a roundtable forum co-organized by PANONY & PANews and Bullish was successfully held. Focusing on the topic of "The future of cryptocurrencies after the approval of Bitcoin ETF and how real-world assets can enter Web3", Bullish Director of Compliance Priscilla Adams, Agora CEO and Co-Founder Nick van Eck, Clearpool CEO Discussed with co-founder Jakob Kronbichler, Asia RWA Working Group founder Thomas Zhu, and PANews&PANONY partner Yolanda Chung.

Good regulation can serve as a market creator

One of the hottest topics nowadays is the changes brought to the industry by the adoption of Bitcoin ETFs . Regarding this topic, Priscilla Adams, Bullish’s director of compliance, said, “Bitcoin ETFs have brought positive momentum to the industry. Good regulation can serve as a market creator.” Priscilla Adams proposed that in the previous cryptocurrency winter, The industry as a whole lacks trust and regulation, and he sees plenty of reasons to be excited about the adoption of ETFs.

Thomas Zhu, founder of the Asia RWA Working Group, pointed out that Bitcoin spot exchanges set an example for other digital assets, and may create a new relationship between crypto assets and traditional assets. Lay the foundation for deeper integration, enhance asset liquidity, and build a more stable and closely connected financial ecosystem.

When speaking on the topic, Clearpool CEO and co-founder Jakob Kronbichler said that the approval of a Bitcoin ETF could bring more trading volume to DeFi as institutions get involved. From a DeFi perspective, this situation may inject more liquidity and vitality into the decentralized financial market, bringing new opportunities and challenges to its development. As institutional investors' interest in digital assets increases, the DeFi ecosystem is likely to receive more funding and resources, driving its further innovation and development. Because

higher mobile payment penetration is conducive to the development of RWA in Asia

In the current bull market, RWA (real world assets) is considered to introduce traditional assets into Web3.0 One of the key means. The Asia RWA Working Group is a cross-disciplinary self-regulatory body that aims to promote the digital transformation of real assets (RWA).

Thomas Zhu pointed out that RWA represents an important progress between traditional finance and DeFi and is expected to open up new possibilities for investment and asset management. The approval of a Bitcoin spot ETF could have far-reaching consequences for the RWA space. This marks regulators’ recognition of crypto assets and opens the door to traditional financial products representing digital assets, increasing crypto’s legitimacy and accessibility among mainstream investors. This is likely to spark interest and investment in the field, driving rapid development and adoption of RWA projects.

In the forum, Thomas Zhu also shared the differences between RWA in Asia and Western countries. He proposed that there are several key factors to consider when conducting RWA in Asia and Western countries, namely: regulatory environment , market dynamics, technology applications, investor allocation, economic priorities and legal systems. Asian countries, especially countries like South Korea and China, tend to adopt new technologies more quickly, he said. These regions may have higher penetration of mobile and digital payments than some Western countries, which may make the concept of tokenized assets more acceptable.

Jakob Kronbichler mentioned that Clearpool’s new product Credit Vaults will be launched soon. He said that this product will give borrowers flexibility and attract new lenders with higher interest rates. , and unlock new borrower types and loan opportunities. Jakob Kronbichler believes that the on-chain credit brought by RWA is exciting, but with a little trick, RWA may lead to no longer good yields in DeFi. Personally, he believes that the adoption of institutions in Defi, as well as the Defi of native assets and the Defi with authority approval, are tracks worthy of attention.

At the scene, Nick van Eck shared some recent developments of Agora. He said that Agora’s first product is a fully collateralized, freely traded USD stablecoin, which will be launched in the next few months. In addition, Agora is launching a next-generation payment and operations platform. Nick van Eck revealed that the stablecoin’s collateral will be managed by a blue-chip traditional asset management company with nearly $100 billion in assets under management.

About PANONY:

PANONY is an incubation, investment, and consulting company deeply involved in the encryption and blockchain industries. PANONY has a management and consulting team composed of experienced industry veterans and top experts in the industry. It is committed to empowering enterprises with localized market awareness and providing professional paths to link global resources. Customers served include more than 200 blockchain startups, such as Highstreet, Render Network (RNDR), Linear Finance, Polygon Network, etc., covering all areas of Web3.0 and blockchain; as well as Fortune 500 companies Amazon and SAIC etc., to help large enterprises develop Web3.0 business ideas.

About Bullish

Bullish Exchange launched in November 2021 and is available in over 50 select jurisdictions across Asia Pacific, Europe, Africa and Latin America . Bullish Exchange is operated by Bullish (GI) Limited and regulated by the Gibraltar Financial Services Commission (GFSC) (DLT License: FSC1038FSA). Focused on developing products and services for the institutional digital asset space, it redesigns traditional exchanges to benefit asset holders, empower traders, and increase market transparency. Benefiting from the Group's ample financial support and within a compliant and regulated framework, Bullish's centralized exchange combines a high-performance central limit order book (CLOB) and proprietary automated market-making technology to provide deep Liquidity and tight spreads.

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