Binance CEO Zhao Changpeng: Non-financial RWA may face liquidity shortage, tokenization of stocks is the trend.

The founder of the world's largest cryptocurrency exchange Binance, Zhao Changpeng, attended the "Crypto Finance Forum 2025" held at the University of Hong Kong and stated that tokenizing Real World Assets (RWA) is not as easy as imagined, especially for non-financial RWA assets with weak liquidity, they may face insufficient liquidity. The so-called RWA refers to the tokenization of real-world assets, which has recently become a hot topic in the Hong Kong financial market.