**BNB Chain 5th Anniversary: CZ Talks Hong Kong Policies, On-Chain Stocks, RWA, DeSci, and More** CZ pointed out that institutional-grade money market fund tokens need to strike a balance between brand partnerships and product strength. Hong Kong has a favorable policy environment to drive the integration of technology and finance. The RWA sector has huge potential but still faces challenges with liquidity and compliance. He emphasized that on-chain pricing power will gradually replace traditional matching mechanisms in the future, offering greater transparency, especially in scenarios like stablecoins and real estate. However, the biggest obstacle for listed companies issuing on-chain stocks lies in unclear compliance. Once regulations become clear, this could become a breakthrough point for innovation in capital markets. As for DeSci, CZ believes its long-term value is evident, but there is a mismatch between its potential and the short-term expectations of current Web3 users. The key lies in creating iconic cases to spark market interest. Read the full article: https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=47&id=48375