TechFlow News, March 6: According to Caixin, Li Xiaojia—former CEO of the Hong Kong Exchanges and Clearing (HKEX), co-founder and chairman of Drip Capital—responded to reports that Drip Capital had initiated procedures to launch a private fund. He noted that, following the China Securities Regulatory Commission’s (CSRC) new regulatory guidelines issued in February this year, Drip Capital might be among the first market participants to pilot real-world asset (RWA) tokenization. Li explicitly stated that Drip Capital currently has no demand for RWA tokenization and sees no necessity to issue RWA tokens. Tokenization cannot reduce the underlying risk of real-world assets; on-chain capital remains extremely limited; and, in the short term, there is no justification for pursuing RWA tokenization solely to attract on-chain capital.
Li also categorized virtual asset investors into five groups: the first group comprises the earliest entrants; the second group consists of mid-stage entrants; the third group includes traditional financial institutions; the fourth group comprises professionals from traditional finance who embrace decentralized principles; and the fifth group is what people commonly refer to as “the韭菜” (“the韭菜” is retained as a culturally specific term and not translated).
