Eugene Cheung

Having spent years as CCO at OSL, I learned a simple sequence that institutions will not skip: 1. Licensed first — so compliance, client categorisation and conduct rules already apply 2. Trusted rails — licensed platforms, custody and settlement that risk committees can underwrite 3. Tokenised funds — only then does on-chain representation become useful rather than experimental Hong Kong's edge is not "more tokens." It is that brokers, banks' securities arms and managers are being permissioned to advise and, where uplifted, to deal and manage — which is what tokenised money-market and strategy products eventually need to reach professional investors at scale. This is why distribution partnerships matter as much as issuance. A product like 2WA's USDGO Plus SP, tokenised and distributed through a licensed channel, only works because that middle layer exists. The headlines will keep chasing the next chain. The durable work in Hong Kong is still licence → rail → fund.

Fidelity sees $150T of TradFi fixed income starving for crypto upside — and the only bridge they have is perpetual preferreds: a fixed-income shell wrapping leveraged, one-way crypto beta. That's the wrong product for the right demand. 2WA @2WA_Official does the inverse: tokenize regulated RWAs so the asset keeps earning, you can borrow stablecoins against it same day without selling, and spend on card. Earn. Borrow. Spend.

The regulated world taught me that security and compliance are what earn institutional trust, and trust is what lets you scale. The crypto world showed me flexibility, convenience, and something new being built every single day. I love both, and I know exactly what each one is missing. So I've spent a long time thinking about how to connect them, and how to let more good assets reach their full value. That's why I started 2WA. To us, RWA isn't just Real World Assets. It's Regulated World Assets, because regulated assets deserve a life on-chain too. Our idea is simple: the asset stays put, and the value moves. The asset sits safely with licensed custodians and brokers, while its value moves freely on-chain. It can be posted as collateral, traded, and used in far more places. That's how regulated assets get their full value. Thank you to OSL for the support 🙏 Together we're launching USDGO Plus SP, 2WA's first step.

去TOKEN的路上。今年是我的第五届。 第一届是2022年。那年新加坡刚刚重新开放，F1 时隔两年回到MBS，Bybit 也是第一年赞助红牛。我那时以半个东道主的身份接待了一拨又一拨来参会的朋友和机构，每天从早忙到深夜，风风火火，热闹又光鲜。一切都是新鲜的，一切也都是顺势而来。 今年第一次以创业者的身份去。说实话，新鲜感已经没有了，取而代之的是一种确定：知道自己想在这个行业里 all in 的方向，知道自己能做好什么，也清楚还需要有那些助力。 感谢 Bybit 为我打开币圈这扇门。也感谢 OSL 给我的机会，让我终于可以把这些年在传统金融和币圈两边攒下的东西，结合起来，一件件放进自己创业的路上。 人在旅途，夜里总容易感慨。更想谢谢这些年一路同行的朋友们。 夜深了，就不说太务实的话。等明天再好好跟大家汇报。

最近参加 3 个关于稳定币和RWA的Panel，首先感谢主办方德林，BeyondExpo 的邀请，南方东英和汇丰支持 首先感觉行业终于回到初心。市场注意力开始从泡沫回归到区块链技术的本质，三点观察： 1 去伪存真： 区块链的终局不是造币，而是“重构”。我们在讨论的不是技术狂欢，是如何用链上效率去优化传统金融基础设施的低效与沉疴。 2 共生共振： 稳定币与RWA不是独立赛道，而是机器的两半。前者提供资金流的“燃料”，后者提供底层资产的“引擎”。缺一不可，合则强。 3 牌照即桥梁： 传统金融资产上链，从来不是技术问题，是信任问题。没有合规牌照的背书，所有的资产上链都只是在沙滩上建城堡。

从‘装甲车运金’到‘数据包传金’，改变的是速度，重塑的是效用。区块链赋予了黄金这笔万年‘不动产’全新的生命力，使其成为当今世上最强劲的资产。 panewslab.com/zh/articles/01…

Big thanks to the Solana Foundation for inviting me to speak at Breakpoint 2025 and share OSL’s vision: “to make money move as freely as information.” Over the next two years, we’re doubling down on B2B payments for global businesses going overseas. Our newly launched USDGO isn’t “just another stablecoin” — it’s a core piece of the compliant global stablecoin payment infrastructure we’re building. Together with BizPay, we’re aiming to solve real cross-border payment challenges for businesses: faster transactions, lower costs, and smarter treasury management.

Fly Direct, Pay Less Than Layover.

稳定币与RWA备受瞩目，是香港Web2.0发展的核心方向。近日有幸与行业专家深度交流，深刻感受到一种全新金融基础设施正在成型，或将重塑百年金融体系。Tether仅165人创超130亿美元利润，彰显区块链的惊人潜力！未来，稳定币与RWA不应止于链上产品，而应通过区块链普及金融能力。正如文中所述：“Web3银行的目标不是成为超级银行，而是赋能无数Web3商户具备银行能力，将银行从机构解构为协议，重塑‘银行’的定义。” #Web3 #稳定币 #RWA m.broadchain.info/news/p-456… WEB3.0银行即将诞生，将会成谁的就，革谁的命？ - 博链财经