Introduction: From Crypto-Native Assets to Real-World Integration Over the past decade, the growth of the digital asset industry has largely been driven by crypto-native innovations. From Bitcoin to Ethereum, and later the rise of DeFi ecosystems, market expansion has consistently revolved around blockchain-based assets. However, this phase is now approaching its natural limits. As the market grows and the participant base evolves, a purely crypto-native asset ecosystem is no longer sufficient to meet the needs of institutional investors. The disconnect between traditional financial assets and digital assets has become a key constraint on further industry development. In this context, the tokenization of real-world assets (RWA) is emerging as a new growth engine. By bringing traditional assets—such as equities, commodities, and real estate—onto blockchain infrastructure, RWA is breaking down barriers between two previously separate markets, enabling capital to flow within a unified system.…