The development direction of the industry is often hidden in the research reports of large institutions! Coinbase 2026 Outlook Report: It emphasizes that token treasury bond are becoming the basic collateral of the system on the chain. Looking through the phenomenon to see the essence, this is a signal that traditional assets are starting to be seriously put on the chain, not just playing cards! So the question is, what are the concerns of traditional large institutions about money being put on the blockchain? Or what kind of chain can make large institutions trust to put their money up? Compliance and trust are of utmost importance, as large institutions have a huge amount of funds and will not solely bet on decentralization. The main risks are: 1. Regulatory compliance risk - Global rules have not yet been unified, and each has its own way of playing. A cross-border transfer may encounter multiple obstacles at the same time. The biggest fear is' compliance today, punishment from new regulations tomorrow '! 2. Custody risk without compensation - Traditional assets have bank level qualified custody, insurance, auditing, and legal accountability. If the private key is lost, the bridge is hacked, or the issuer makes operational errors on the chain, who will compensate? 3. Liquidity illusion+run risk - the chain seems to move randomly on 24/7, but the underlying real treasury bond bonds/stocks can only be settled on trading days. Once the market panics, everyone redeems at the same time → orders are thin → slip points are huge → fire sale and crash → systemic risk. 4. No one claims for custody and the law cannot be upheld - traditional methods include bank safes and insurance; On chain private key loss, bridge black, who bears the blame? The court does not recognize that 'code is law'. Sei's goal is the "real-time settlement layer of modern finance", which regards compliance trust as its lifeline, not just shouting slogans casually. Sei's approach is: 1. Big companies+national endorsement - Binance, Kraken, Anchorage and other big players run verification nodes, and even Bhutan's sovereign fund will go online in early 2026. It's like saying 'even the country trusts you for compliance', which makes institutions feel at ease at first glance. 2. Bank level custody - BitGo has been supporting qualified custody of SEI and RWA since 2023, with insurance, multiple signatures, and BitGo appearing in the SEI ETF record. The institution first locks the money in BitGo and then links it, and if something happens, someone will compensate. 3. Built in compliance tools - use Elliptic to monitor anti money laundering, automatically attach identity tags to transfers, and comply with FATF travel rules; The audit logs are clear, and supervision needs to export them at any time. 4. Regulatory friendly design: Supports regulatory nodes (where authorities run nodes to view data themselves), role permissions, and not everyone is equal. Combined with Giga's upgraded blink confirmation (within 400ms) and low cost stability, it makes regulators feel "controllable and traceable". In one sentence: It is desperately building a "trust bridge for institutions to dare to enter" - endorsement from big companies, qualified custody, built-in compliance tools, and regulatory friendliness, making big institutions go from "afraid of fines and no one to compensate" to "daring to take small steps and daring to charge forward"