TechFlow news, November 3 — Anna Liu, CEO of HashKey Tokenisation, delivered a keynote speech at Hong Kong Fintech Week 2025, stating that true breakthroughs in addressing the "impossible trinity" of returns, efficiency, and risk control will come from RWA transforming assets from simple "digitization on-chain" to a "programmable economy."
Anna said: "We are now at the most transformative stage of RWA—shifting from the traditional 'asset-on-chain' model to a dynamic, programmable phase where smart contracts reshape the entire lifecycle of assets." She added, "Innovations such as programmable collateral, atomic settlement, embedded compliance, and automated distribution mechanisms will drive RWA to build a 'programmable economy.' Even though the dynamic balance within the 'impossible trinity' of returns, efficiency, and risk control still exists, RWA's 'programmability' can create a more resilient and inclusive financial system."
Anna also noted, "Hong Kong's forward-looking Stablecoin Ordinance provides necessary guidance for the industry. By formally recognizing the systemic balance among efficiency, utility, and user returns, it offers a clear pathway for next-generation financial innovation to achieve truly sustainable growth within a regulatory framework."
She stated, "Industry development requires honest dialogue between innovators and regulators—drawing on the wisdom of traditional finance while embracing the potential of blockchain. HashKey will continue strengthening digital asset infrastructure and work with industry partners to jointly realize the vision of RWA transformation."
