Lending

Lending protocols form the backbone of the decentralized money market, allowing users to lend or borrow digital assets without intermediaries. Using smart contracts, platforms like Aave and Morpho automate interest rates based on supply and demand while requiring over-collateralization for security. The 2026 lending landscape features advanced permissionless vaults and institutional-grade credit lines. This tag covers the evolution of capital efficiency, liquidations, and the integration of diverse collateral types, including LSTs and tokenized RWAs.

14404 Articles
Created: 2026/02/02 18:52
Updated: 2026/02/02 18:52
Top 5 Crypto Presales to Buy Now – Next Cryptos Set to Explode

Top 5 Crypto Presales to Buy Now – Next Cryptos Set to Explode

Meme coins are evolving fast, moving beyond simple hype cycles into projects with real hooks, culture-driven branding, and in some cases, surprising utility. Some of the best crypto presales to buy right now are riding this wave, blending early traction with unique narratives that stand out in a crowded market. From Bitcoin-inspired scalability to gamified […]

Author: The Cryptonomist
3 Explosive Altcoins to Watch in 2025: Ozak AI, Solana, and Pepe

3 Explosive Altcoins to Watch in 2025: Ozak AI, Solana, and Pepe

Crypto markets are heating up as investors position themselves ahead of the next bull cycle. Among hundreds of altcoins competing for attention, three projects stand out as potential breakout winners: Ozak AI (OZ), Solana (SOL), and Pepe (PEPE).

Author: Cryptodaily
Bitwise CIO Matt Hougan zegt dat banken betere rente moeten aanhouden tegen stablecoins

Bitwise CIO Matt Hougan zegt dat banken betere rente moeten aanhouden tegen stablecoins

@media (max-width: 700px) { .crypto-cta-banner { padding: 0 0 0 20px; font-size: 12px; } .crypto-cta-button { padding: 0 10px; font-size: 12px; } .crypto-desktop-text { display: none; } .crypto-mobile-text { display: block; } } @media (min-width: 701px) { .crypto-mobile-text { display: none; } } Connect met Like-minded Crypto Enthusiasts! Connect op Discord! Check onze Discord   Matt Hougan, de CIO van Bitwise, zei dat banken betere beloningen moeten geven aan klanten om stablecoins tegen te gaan. Hij vindt dat banken niet mogen klagen over de ‘bedreiging van stablecoins’ en de competitie aan moeten gaan.  Maar waarom zegt Hougan dit? En wat laat het zien over de stablecoin markt? En hoe staat het ervoor in Nederland? Bitwise CIO: ‘Banken moeten betere beloningen geven’ Matt Hougan van Bitwise liet in een bericht op X weten dat Amerikaanse banken niet moeten klagen over de ‘bedreiging van stablecoins’. These scare articles about stablecoins destroying local lending markets are absurd. If local banks are worried about competition from stablecoins, they should pay more interest on deposits. They’re only worried because they’ve been abusing depositors as a free source of… https://t.co/WDALrdLxGp — Matt Hougan (@Matt_Hougan) September 9, 2025 Hij laat dit weten als reactie op een artikel van Bloomberg. Bloomberg schildert stablecoins in haar artikel af als een bedreiging voor lokale banken. Hougan vindt dit klinkklare onzin. In zijn bericht laat hij weten: “Als lokale banken zich zorgen maken over de concurrentie van stablecoins, zouden ze meer rente moeten betalen over deposito’s. Ze maken zich alleen zorgen omdat ze depositohouders al tientallen jaren misbruiken als gratis bron van kapitaal.” Hougan zegt dat ‘angstaanjagende artikelen over stablecoins die lokale kredietmarkten vernietigen absurd zijn’. Wie is Matt Hougan? Matt Hougan is Chief Investment Officer bij Bitwise Asset Management, een van de bekendste fondshuizen in de crypto-industrie. Hij speelt een centrale rol in de ontwikkeling van beleggingsproducten die digitale activa toegankelijk maken voor institutionele en particuliere investeerders. Hougan staat bekend om zijn heldere analyses van de markt en zijn inspanningen om crypto in te bedden binnen de bredere financiële sector. Met zijn werk aan ETF’s en indexfondsen draagt hij bij aan de professionalisering en legitimiteit van de cryptomarkt. In het rapport van Bloomberg wordt er specifiek gekeken naar kleinere banken, die lokaal of regionaal te werk gaan. Volgens het rapport hebben deze banken last van concurrentie van stablecoins omdat ze afhankelijk zijn van deposito’s van klanten voor kredietverlening. Stablecoins bieden een alternatief voor spaarrekeningen door hogere rentes te bieden. Hierdoor hebben veel mensen geld opgenomen van banken. Bitwise’s Hougan zegt dat het kan resulteren in dat banken minder krediet kunnen verstrekken omdat ze minder deposito’s hebben. Toch zegt hij dat dit niets betekent voor de kredietmarkt. Mensen met stablecoins kunnen krediet rechtstreeks aan leners verstrekken via DeFi-platforms. “De verliezer hier zijn de winstmarges van banken. De winnaar hier zijn individuele spaarders. De economie zal het prima doen.” Beter rendement op stablecoins De rente op stablecoins is over het algemeen beter dan op spaarrekeningen. De gemiddelde spaarrente in de VS is 0,6%, volgens gegevens van Bankrate. Van dit rendement moeten nog inflatie en bankkosten afgetrokken worden. Hierdoor verliezen consumenten vaak geld als ze het een lange tijd op een spaarrekening laten staan. Hierdoor zijn er steeds meer voorstanders van stablecoins. Stablecoins bieden tussen de 3% en 15% aan jaarlijks rendement. Daarnaast hebben ze ook andere voordelen ten opzichte van banken. Zo bieden stablecoins snellere transacties tegen lagere kosten en is bewaren gratis. In de Verenigde Staten zijn banken hard aan het lobbyen tegen rendement op stablecoins. Ze willen een aanpassing van de GENIUS Act, die stablecoins reguleert. De cryptosector wil juist deze concurrentie behouden. Hoe staat het ervoor met rendement op stablecoins in Nederland? Met de komst van de GENIUS Act in de Verenigde Staten is rendement op stablecoins legaal. Toch is dit in Europa een ander geval. Met de komst van de Markets in Crypto Assets (MiCA) regelgeving is het verboden voor gecentraliseerde cryptodiensten om stablecoin rendement aan te bieden. De enige manier om dit te doen in Nederland, is door gebruik te maken van decentrale platforms, zoals Aave. Dit laat zien dat de banken de strijd in Europa al gewonnen hebben. In de Verenigde Staten is de strijd nog gaande. Daar heeft de cryptomarkt een voordeel met de komst van president Donald Trump, die de status van de cryptomarkt in het land flink heeft verbeterd. Toch is ook hij beïnvloedbaar door banken. Best wallet - betrouwbare en anonieme wallet Best wallet - betrouwbare en anonieme wallet Meer dan 60 chains beschikbaar voor alle crypto Vroege toegang tot nieuwe projecten Hoge staking belongingen Lage transactiekosten Best wallet review Koop nu via Best Wallet Let op: cryptocurrency is een zeer volatiele en ongereguleerde investering. Doe je eigen onderzoek. Het bericht Bitwise CIO Matt Hougan zegt dat banken betere rente moeten aanhouden tegen stablecoins is geschreven door Marijn van Leeuwen en verscheen als eerst op Bitcoinmagazine.nl.

Author: Coinstats
Best Altcoins to Accumulate Now Ahead of the Next Big Market Rally

Best Altcoins to Accumulate Now Ahead of the Next Big Market Rally

As the crypto market is once again poised to next see a potential boom, attention is turning squarely to the high value altcoins that will likely define the next bull market. One of them is the Mutuum Finance (MUTM), which already enjoys a rather big hype, and which has a potential in early accumulation due […]

Author: Cryptopolitan
Paxos Aim to Bring Hyperliquid Assets to Millions of Users

Paxos Aim to Bring Hyperliquid Assets to Millions of Users

The post Paxos Aim to Bring Hyperliquid Assets to Millions of Users appeared first on Coinpedia Fintech News Stablecoin issuer Paxos has rolled out its updated USDH Proposal V2, outlining a bold plan to scale Hyperliquid globally. The proposal introduces three major upgrades, a PayPal partnership, a new rewards model, and global expansion initiatives, all designed to make USDH a leading stablecoin in decentralized finance.  Paxos makes it clear: its success depends fully …

Author: CoinPedia
Dogecoin ETF on the Horizon—Can the Meme King Reignite the Crypto Carnival?

Dogecoin ETF on the Horizon—Can the Meme King Reignite the Crypto Carnival?

Discover the potential impact of a Dogecoin ETF on the cryptocurrency market. Explore how the beloved meme coin could spark renewed interest and volatility in the digital asset space.

Author: Cryptodaily
XRP ETF Odds Soar to 93% Amid Ripple’s $3B Spending Spree

XRP ETF Odds Soar to 93% Amid Ripple’s $3B Spending Spree

The post XRP ETF Odds Soar to 93% Amid Ripple’s $3B Spending Spree appeared on BitcoinEthereumNews.com.  XRP ETF Approval Odds Surge to 93% on Polymarket Prediction platform Polymarket now places the odds of an XRP ETF approval by year-end 2025 at 93%, reflecting surging investor confidence that regulatory clarity and institutional demand could soon elevate XRP into the ETF arena alongside Bitcoin and Ethereum. Source: Polymarket An XRP ETF would be a watershed moment for Ripple’s token, opening the door for traditional investors to access XRP through regulated markets without directly holding it.  This move could unleash new capital from institutions like asset managers, pension funds, and risk-averse retail investors who favor the security and familiarity of ETF structures. The legal backdrop strengthens these odds. Ripple’s recent win against the SEC, where XRP was ruled not a security in secondary market trades, marked a pivotal shift. Though regulatory hurdles remain, the decision bolstered XRP’s legitimacy and cleared a critical path toward mainstream financial adoption. Polymarket’s odds highlight a bigger story of blockchain’s push into mainstream finance. An XRP ETF approval would validate Ripple’s cross-border utility while marking a milestone for altcoins entering regulated markets. If realized, the XRP ETF could reshape the market. Analysts predict approval may drive major price gains and intensify competition among institutions racing to build XRP-based products. With odds at 93%, many see this as the tipping point for XRP’s evolution from a contested crypto into a mainstream investment asset. Ripple’s $3 Billion Bet: Strategic Acquisitions Fuel Global Expansion According to renowned crypto researcher SMQKE, Ripple has now spent over $3 billion on acquisitions and strategic opportunities to date, a figure that highlights the company’s aggressive growth strategy in the evolving blockchain and payments landscape. Ripple, best known for its XRP-powered cross-border payments solutions, has long positioned itself as a bridge between traditional finance and digital assets. This multi-billion-dollar outlay demonstrates that…

Author: BitcoinEthereumNews
Paxos Ties PayPal to Hyperliquid With USDH Push and $20M Incentives

Paxos Ties PayPal to Hyperliquid With USDH Push and $20M Incentives

TLDR: Paxos launched USDH Proposal V2 with PayPal support, HYPE listing, and $20M incentives to expand Hyperliquid globally. The proposal sets a TVL-based revenue model, capping Paxos earnings at 5% and linking all fees to HYPE tokens. PayPal will integrate USDH across Venmo, Checkout, Braintree, Hyperwallet, and Xoom for global reach. Paxos confirmed USDH issuance [...] The post Paxos Ties PayPal to Hyperliquid With USDH Push and $20M Incentives appeared first on Blockonomi.

Author: Blockonomi
Former Celsius CEO Alex Mashinsky Heads to Prison After Fraud Conviction

Former Celsius CEO Alex Mashinsky Heads to Prison After Fraud Conviction

The post Former Celsius CEO Alex Mashinsky Heads to Prison After Fraud Conviction appeared on BitcoinEthereumNews.com. Crime 10 September 2025 | 09:30 Alex Mashinsky, the former head of bankrupt crypto lender Celsius, is set to begin serving his prison sentence this Friday. Court documents show he must surrender to federal authorities by 2:00 pm ET, with the Bureau of Prisons recommending he be housed at the minimum-security Federal Prison Camp in Otisville, New York. Mashinsky’s downfall marks one of the most high-profile criminal cases in the crypto sector. Once seen as a pioneer of digital lending, Celsius collapsed in July 2022 amid the industry-wide turmoil following Terra’s implosion. Months later, Mashinsky stepped down as CEO while the company navigated bankruptcy proceedings. Celsius ultimately exited bankruptcy in early 2024, distributing roughly $3 billion to creditors. The former executive was indicted in July 2023 on seven felony counts, including commodities fraud and market manipulation tied to Celsius’s CEL token. His legal team attempted to have some charges thrown out but was unsuccessful. By May 2025, he reached a plea deal and was sentenced to federal prison. Court filings also confirmed he forfeited all claims to Celsius during bankruptcy. Mashinsky’s case isn’t isolated. Former Celsius revenue chief Roni Cohen-Pavon admitted guilt to four felonies and awaits sentencing in September. Across the industry, several other high-profile executives have faced justice: Sam Bankman-Fried is serving 25 years, Changpeng Zhao completed a four-month sentence, and Do Kwon is awaiting his own judgment after pleading guilty. Mashinsky’s imprisonment underscores the growing trend of U.S. courts holding crypto leaders accountable, a signal that enforcement actions are intensifying against misconduct in the sector. The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial…

Author: BitcoinEthereumNews
Can the popular RWA really make money?

Can the popular RWA really make money?

In the cryptocurrency world, consensus is never lacking. To some extent, as the carrier of the dream economy, consensus is the gold of the cryptocurrency world. From the summer of DeFi to the once-popular NFTs, from the glimpse of the future of Web3 to the sudden explosion of AI, the continuous rise of the cryptocurrency world has all stemmed from consensus itself. Now, the wind of consensus is blowing towards RWA. As institutions continue to bridge the gap between crypto and traditional markets, RWA, the tokenization of real-world assets, is considered the next major trend poised to generate substantial growth. In Hong Kong, internet giants, financial institutions, and major banks appear to be waiting and observing this potential future trend. In mainland China, projects under the RWA banner are also mushrooming, hoping to dispel the industry's stagnation with RWA's momentum. But after unveiling the veil of “everything can be tokenized”, whether the real RWA is really the gold to be mined as the market imagines is still a big question mark. 01. Current Status of RWA Development: Overseas Focus on Finance, while Mainland China Develops Industry RWAs, short for Real World Assets, broadly refer to any real-world physical asset that is tokenized and mapped onto a blockchain. Strictly speaking, stablecoins are also a form of RWA. From an asset perspective, RWAs offer numerous advantages. First, divisibility. Compared to traditional assets, which are sold in fixed units, tokenization allows for fragmentation and sale of assets in smaller units. This not only lowers the barrier to entry for financing but also allows for greater trading flexibility for large assets constrained by scale. Second, it offers broader price discovery and liquidity. Under existing financial product trading infrastructure, financial asset transactions are subject to significant time and space constraints. However, on-chain tokenization enables 24/7 trading and global pricing, more in line with the characteristics of a free market. Finally, efficiency is enhanced. On-chain tokenization offers high transparency and reduces intermediary costs and time, making RWAs generally more efficient in issuance. With these advantages, traditional institutions have flocked to the market. Beginning in 2019, JPMorgan Chase, Goldman Sachs, DBS Bank, UBS, Santander, Societe Generale, and Hamilton Lane, among others, began exploring this sector and testing and issuing some products. But why has RWA only recently exploded in popularity? The underlying reasons are policy and cyclical factors. First, a shift in the policy environment. The United States, in particular, significantly reduced regulatory pressure on tokenized assets this year and even expressed a heightened interest in stablecoins and RWA assets. Hong Kong has also seen this. This relaxed regulatory environment has given previously hesitant institutions the freedom to conduct pilot projects. Second, there are issues related to industry cycles. To date, the core driving force of the cryptocurrency industry has shifted from technology and applications to capital. The prominent problem restricting the cryptocurrency industry is the serious lack of incremental growth. The market can no longer support development by relying solely on the existing resources within the circle. It is necessary to introduce flows of people and funds from outside the circle. The large-scale influx of traditional institutions just corresponds to this solution. Therefore, RWA, as the best entry point for traditional institutions and crypto finance, has also been popular. As with their current development, the paths of RWA development in China and abroad, like their attitudes toward blockchain, differ significantly. Overseas RWAs, primarily in the United States, focus on finance, with tokenized assets often consisting primarily of government bonds and money market funds. In contrast, domestic RWAs emphasize real-world empowerment, with underlying assets possessing a distinct industrial nature. Currently, due to their early start and maturing development, overseas RWAs are exhibiting a diverse range of underlying assets. According to Rwa.xyz data, after excluding stablecoins, the total on-chain RWA has reached $28.44 billion, a 14.74-fold increase from $1.929 billion in 2022. The number of asset issuers has reached 274, with total asset holders exceeding 380,000. In terms of asset classes, private credit is the core area of RWA, with a scale of 16.1 billion yuan, accounting for 56.61%. US Treasuries rank second with $7.5 billion, followed by commodities ($2 billion), institutional alternative funds ($1.8 billion), and public equity ($4.2 million). Non-US Treasury bonds and corporate bonds are the least involved, with a combined total of only $600,000. While private lending appears to be leading the way, Figure, an on-chain mortgage lender, alone accounts for $15.5 billion in private lending. However, Figure merely records transactions on the Provenance blockchain after backing its core HELOC mortgage product. Strictly speaking, it merely uploads data to the blockchain and is not a true RWA company. Therefore, the most attractive sector in the RWA sector remains US Treasury bonds. Institutional investors flock to the U.S. Treasury bond market. The top three holdings are all large institutions. BlackRock's tokenized fund, BUIDL, currently holds $2.283 billion in assets, followed by WisdomTree's WTGXX (US$830 million) and Franklin Templeton's government money fund, BENJI (US$740 million). Together, these three companies hold 37.78% of the Treasury bond market. Precious metals dominate the commodity market, with gold holdings exceeding $1.88 billion, representing over 70% of the market. Shifting our focus from overseas to domestically, the target composition shifts. China's RWA practice is still in its early stages, with the industrial chain still evolving. Development pathways are primarily focused on empowering the real economy, with applications currently underway in financial assets, physical assets, trade financing, supply chain traceability, cultural heritage preservation, and tourism. Typical examples include the Longxin Group charging pile asset project, the GCL Energy photovoltaic asset project, the Green Energy battery swap asset project, the Malu grape agricultural product project, and the Greenland Jinchuang real estate project. For example, the first charging pile asset RWA project in China, a collaboration between Ant Digital and Longxin Technology, successfully raised 100 million RMB in tokenized financing, leveraging 9,000 charging piles owned by GCL Energy. Source: Huaxi Securities There are also differences in infrastructure. Overseas RWAs are mostly hosted on public blockchains, with Ethereum holding over 57% of the market share. Domestic RWAs, however, adhere to traditional principles, primarily relying on consortium blockchains, supplemented by public blockchains. Currently, blockchain companies such as Ant Digits and Shuqin Technology are developing dedicated RWA platforms. Despite differences in infrastructure and underlying assets, a preliminary consensus has emerged both domestically and internationally regarding the rush to establish RWAs. According to a joint forecast by Boston Consulting Group (BCG) and ADDX, the global asset tokenization market will reach $16.1 trillion by 2030. Against this backdrop, not only large enterprises are eager to capitalize, but even small and medium-sized businesses are jumping on this new gold mine of wealth. However, despite this seemingly limitless potential, is RWA truly flawless in its current development? Is issuing an RWA truly as easy as taking something out of a bag? 02. The dilemma of RWA: high issuance threshold and liquidity problems The answer is no. First, despite the slogan "everything can be tokenized," RWAs are not without requirements for their underlying assets. The term "asset" implies that the issued RWA must be an objectively yielding asset. Therefore, a relatively good underlying asset should possess three basic qualities: standardization, high liquidity, and a more attractive return. Essentially, on-chain asset issuance merely provides a new financing and issuance channel. The key to attracting market liquidity lies in the inherent value of the asset. From a scalability perspective, scalable assets must possess stable value, clear legal title, and verifiable off-chain data; otherwise, widespread distribution is difficult. This also explains why government bonds are the largest overseas RWA product: their inherent high liquidity, guaranteed returns, and high compliance certainty naturally align with the RWA concept. Even if the asset issue is resolved, issuing RWAs is still not an easy task under my country's current environment. Currently, due to the inherent securities nature of RWAs, the RWA issuance process involves both legal compliance and technical complexity. For example, issuing private RWAs in Hong Kong requires initial asset screening to ensure that the assets are clear and tradable. Typically, a special purpose vehicle (SPV) entity is established to connect domestic and overseas markets, facilitating the compliant cross-border flow of funds and assets. License application and sandbox testing must also be completed in Hong Kong. After ensuring compliance, technical implementation must ensure data and asset interoperability. Comprehensive solution providers are now available, focusing on asset on-chain integration, smart contract auditing, and cross-chain interoperability. The entire process, relying solely on private companies to issue RWAs in Hong Kong, would take at least eight months. The complex process leads to high costs. According to a PAnews report, the cost of issuing a single RWA product in Hong Kong can reach 3-6 million RMB, covering legal compliance, technology integration, brokerage costs, and fundraising and QFLP costs. Brokerages, as the core of RWA transactions, account for the majority of these costs, with channel fees reaching 2-3 million RMB. From a long-term strategic perspective, issuance costs rise even further. Obtaining a Hong Kong license alone can cost over one million RMB, and the extremely challenging Virtual Asset Service Provider (VASP) license can cost tens of millions RMB, making participation accessible only to large, well-resourced players. More importantly, issuance is just the beginning; liquidity challenges remain. In fact, even in larger overseas markets, the liquidity of RWA products is far from optimistic. Take BlackRock's BUIDL, for example. With a market capitalization of $2.238 billion and monthly transaction volume exceeding $170 million, BUIDL is a market leader overseas. However, it has only 89 holders, 51 monthly transfer addresses, and fewer than 20 monthly active addresses, highlighting the market's high dependence on issuers and a small number of large institutions. This is consistent with the performance of the traditional government bond market, where such assets typically generate interest through scale rather than relying on a trading market. Tokenization hardly changes the underlying nature of these assets. Across the institutional RWA market, these characteristics of high market capitalization, concentrated control, and low liquidity are common. Only products with relatively widespread trading channels, such as gold RWAs, can break this mold. This shows that the threshold for issuing RWAs is not only high, but also quite high. Companies hoping to achieve huge profits through RWAs and create something out of nothing may need to think twice before taking action. After all, if there is a good asset, there will naturally be no shortage of sellers. However, if the underlying asset cannot be classified as a high-quality asset in the first place, tokenization will not only fail to achieve good results, but may even lead to losses. In fact, a large number of RWA products currently flooding the market are simply skirting the rules, covering junk assets with a conceptual shell to package them as new products. This not only fails to meet the original intention of RWAs, but also poses compliance risks. Take Hainan Huatie, a project that has recently gained widespread attention in the market, for example. The company, relying on the "Brother Hornet" digital collectible, has tied the collectible to a cash dividend of 50,000 stock income rights each year from 2025 to 2027. As a further development strategy, the company has also officially announced the issuance of a 10 million yuan non-financial RWA product, which will digitize the use and operating rights of all its equipment on the blockchain in the form of "membership cards," allowing users to circulate through on-chain transfers, consignments, and other methods while enjoying certain usage rights or benefits. Although both projects were quite successful, with the Hornet Brother digital collectible seeing its floor price leap from 200 to 15,000 yuan in just three days, a closer look reveals that both NFTs and RWAs have very unclear ownership structures, extremely vague disclosure information, and involve the splitting of securitized proceeds, posing obvious compliance risks. 03. The Future of RWA: A Dialectical Unity of Brightness and Twists In summary, although RWA has developed rapidly in the past two years driven by both policies and markets, the industrial chain has been steadily extended, the coverage of underlying assets has continued to increase, product types have shown a trend of diversification, and the issuing entities have been continuously expanded, it also faces objective challenges such as insufficient infrastructure, long issuance cycle, high cost, low liquidity, and lack of regulatory chain. If long-term development is to be achieved, it is indispensable to improve infrastructure technically, build an ecosystem for service providers, and create a structure in the market. Fortunately, the market is taking action. Technically, specialized platforms for RWA issuance are springing up, along with accelerators, organizations, and associations focused on RWA services. The standard system for product issuance continues to improve. Even with the daunting challenge of liquidity, the market is attempting to address it by opening up the DeFi space and developing on-chain distribution. On the regulatory front, both the United States and Hong Kong are providing a better environment for innovation within their rules. Hong Kong's Ensemble Sandbox is a prime example. The future is bright, but the road ahead is tortuous. Behind the gold rush, there are also obstacles. For RWA, there is still a long way to go.

Author: PANews