From stablecoins to RWA, driving a new engine for financial innovation
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From stablecoins to RWA, driving a new engine for financial innovation
Digital finance is moving from the experimental phase to large-scale application.
Navigating Web3 tides with focused insights
On October 1, the "Singapore–Hong Kong Connect Forum (SG–HK Connect)", co-hosted by MetaComp and OSL, was grandly held at the Asia Grand Ballroom of Fairmont Singapore. As one of the key open forums during TOKEN2049 Week, the event brought together regulatory representatives, academics, and industry leaders from Singapore, Hong Kong, and Central Asia to explore how stablecoins and real-world asset tokenisation (RWA Tokenisation) are reshaping the future of cross-border finance.
The forum was moderated by Tin Pei Ling, Co-President of MetaComp. Dr Bo Bai, Chairman and Co-Founder of Alpha Ladder Group, and Eugene Cheung, Chief Commercial Officer of OSL, delivered opening remarks on behalf of the organisers. They were joined by Renat Bekturov, Governor of the Astana International Financial Centre (AIFC), and Ambassador Askar Kuttydadam, Kazakhstan’s Ambassador to Singapore. The event also gathered heavyweight guests from academia and industry, including INSEAD Associate Professor Ben Charoenwong, FinChain CEO and Co-Founder Chen Zhao, Sing Auto representative Alice Liu, and David Song, Head of Digital Business at Green Link Digital Bank, who shared insights and practical experiences in cross-border payments and real-world asset tokenisation.
This gathering of thought leaders and practitioners not only showcased the latest trends in digital finance but also highlighted the leading roles of Singapore and Hong Kong as two major international financial hubs in Asia. Speakers unanimously agreed that the future of cross-border finance will be driven by the "track of reality"—where innovation and compliance advance hand-in-hand, and trust coexists with efficiency.
(Left to right: Professor Ben Charoenwong–INSEAD, Tin Pei Ling–MetaComp, Dr Bo Bai–Alpha Ladder, Eugene Cheung–OSL, Governor Renat Bekturov–AIFC)
1. The New Engine of Financial Innovation: Driving Forces
1. Push Factor: Urgent Need for Improved Cross-Border Payment Efficiency
Cross-border payments are the lifeblood of global trade. Existing systems such as the USD–SWIFT network have long provided stability and trust for the global economy. However, with increasing globalization and the rise of emerging markets, demands for speed and transparency are growing more urgent.
A white paper jointly authored by MetaComp's leadership team—Dr Bo Bai, Eddie Hui, Tin Pei Ling—and INSEAD Professor Ben Charoenwong指出:
Under the current system, small and medium enterprises often bear higher opportunity costs due to settlement delays and multiple intermediaries.
A compliance-by-design stablecoin layer can significantly enhance the speed, transparency, and interoperability of cross-border payments without replacing existing infrastructure.
2. Pull Factor: Technological Maturity and Regulatory Clarity
The market capitalization of stablecoins continues to grow, indicating a maturing global market environment.
Regulatory frameworks such as MAS's stablecoin guidelines in Singapore and Hong Kong's upcoming Stablecoin Ordinance provide clear standards for the industry, establishing a secure, transparent, and sustainable innovation ecosystem.
3. Web 2.5 Reality: Bridging Through Trust
Traditional finance will not disappear—it remains the cornerstone of global trust. The real opportunity lies in building bridges between the two worlds: combining the compliance and stability of banking systems with the speed, transparency, and programmability of blockchain technology to create a new generation of stable and efficient financial infrastructure.
After events such as Luna and FTX, trust must be embedded into systems from the very beginning.
Only through compliance, transparency, and auditability as foundational principles can innovation earn the trust of institutions and regulators, guiding the market toward greater safety and maturity.
2. What Does the "Track of Reality" Mean?
· Stablecoins: The "Bridge" Connecting Traditional and Digital Finance
The backbone of cross-border payments remains formed by global networks like SWIFT.
The core value of stablecoins lies in adding a programmable digital layer to traditional systems, enabling faster movement and settlement of funds under regulatory visibility.
It is not about replacement, but enhancement—making payments faster, more transparent, and more secure.
· RWA: Giving Digital Assets Real Financial Value
Real-world assets (RWA) represent an innovative direction of digitizing and managing traditional assets on blockchains, but their development must be grounded in compliance. Compliant RWA tokenisation enhances market transparency and operational efficiency within regulatory frameworks, driving the digital transformation of asset management and settlement processes.
Stablecoins drive cross-border value flows, while RWA provides real economic backing to the digital financial system. Together, they form a trustworthy, transparent, and supervisable digital financial infrastructure.
3. Licenses: The Foundation of Trust
MetaComp holds a Major Payment Institution (MPI) license issued by the Monetary Authority of Singapore (MAS), covering services in cross-border remittance and Digital Payment Tokens (DPT).
Under MAS’s comprehensive regulatory framework, MetaComp provides institutional clients with compliant financial services across payments, investment, and tokenised markets, seamlessly connecting traditional finance with digital assets.
This compliance system ensures robust protection for the group's cross-border and digital asset infrastructure, guaranteeing all business activities meet the highest standards of compliance, transparency, and investor protection.
4. Dual Hubs: Singapore and Hong Kong as Asia's Twin Engines of Liquidity
Singapore, with its robust regulatory system, deep trade connectivity, and global channels spanning Asia, the Middle East, and Africa,
has become a key hub for regional financial innovation. As a regulated financial institution licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution (MPI), MetaComp specializes in cross-border payments and institutional-grade digital asset settlements, with monthly OTC and payment transaction volumes exceeding USD 1.5 billion, demonstrating its leadership in regulatory compliance and market trust.
Hong Kong, led by industry pioneers such as OSL, has emerged as a major international financial center and a key engine for institutional-grade digital asset innovation in Asia.
Together, the two cities form Asia’s liquidity corridor—two regulatory centers collaborating to promote global standardization and cross-border interoperability of digital assets.
The strategic partnership between MetaComp and OSL embodies this vision: centered on liquidity, compliance, and innovation, jointly advancing the development of next-generation cross-border financial infrastructure.
5. Building Bridges: Strengthening Strategic Collaboration
The presence of Governor Renat Bekturov and Ambassador Askar Kuttykadam underscores the significance of digital finance at the policy, diplomatic, and cross-border cooperation levels. This forum further solidified the strategic partnership between MetaComp and OSL, deepening collaboration and interconnectivity between Singapore and Hong Kong in digital finance. Together, they will drive cross-border settlement and asset circulation across regions—from Central Asia, East Asia, Southeast Asia, the Middle East, Africa, to Latin America—using compliance as the bridge and innovation as the engine, building an open, trustworthy, and efficient new global financial ecosystem.
6. Looking Ahead
Digital finance is transitioning from experimental phases to large-scale adoption.
In the coming years:
• Programmable payments will become deeply integrated into corporate operations and international trade;
• Tokenised funds and sovereign bonds will become mainstream tools for liquidity and yield management;
• Licensed financial institutions such as MetaComp and OSL will serve as critical gateways connecting traditional finance and digital asset markets—bringing blockchain efficiency and transparency into the global financial system under compliant frameworks.
These regulated platforms are laying the foundation for next-generation cross-border financial infrastructure—a future of global finance that is faster, more transparent, and more interoperable.
MetaComp remains committed to the philosophy of "authenticity, compliance, stability, and future-readiness," partnering with others to move forward at the speed of trust, supporting the high-quality development of digital finance.
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