At SmartCon 2024, Dr. Feng Xiao, Chairperson and CEO of HashKey Group, said that traditional and crypto financial marekts will be interconnected through stablecoins (Payfi tokenized by fiat currency), ETFs (off-chain securitization of crypto assets), RWAs (tokenization of traditional asset chains), and STOs (tokenization of on-chain Web3 commerce) respectively, and these will be carried out through licensed compliance institutions (on-chain deposit, loan, and exchange transactions). Dr. Xiao said: "On-chain" is mainly through three ways: Web2 (data on-chain), DePIN (device on-chain), DeFi (asset on-chain). On-chain is a path rather than a goal for users to embrace greater value. HashKey Chian, the Ethereum L2 public chain released by HashKey recently, will build a compliance-friendly and innovative ecosystem, allowing traditional financial and Web3 users to share the infinite possibilities and value brought by blockchain technology and applications.