The financing progress of Hashkeygroup looks like a piece of news, but what is actually being repriced is the subsequent space @hashkeygroup Top domestic brokerages like Guotai Junan are conducting RWA (Real World Assets on-chain) business in compliance in Hong Kong through their investment in the HashKey platform, bringing traditional financial assets on-chain. Hong Kong is promoting the combination of RWA (assets on-chain) with the development of digital renminbi (e-CNY, currency on-chain) in the mainland, forming a prototype of a complete on-chain financial system. Against the backdrop of a bear market, investors' demand for safe, compliant, and stable financial products has increased. As a compliant platform, HashKey is meeting this demand through RWA wealth management. The flow of funds shows a three-stage trend: market makers/quantitative funds migrate first due to efficiency and safety, followed by institutional allocation of funds testing the waters, and ultimately, it may attract the inflow of stablecoins and idle funds from exchanges, among other old system funds on-chain.