Odaily News At the Chainlink 2024 Hong Kong SmartCon conference with the theme of "Integrating Blockchain and Traditional Finance", a number of traditional financial institutions that are actively exploring the deep integration of digital assets and on-chain finance expressed many insights at the SmartCon event. Among them, Andrew Wong, Executive Director of UBS, said: "There are three driving forces for market forces and asset managers to adopt fund tokenization products: First, the supply level, that is, the asset issuance perspective. Previously, the legal and regulatory factors of asset tokenization were more complicated, and products such as ETFs provided a standardized and convenient tool for this; Second, the demand level, when there is more liquidity or cash flow on the chain, whether it is tokenized bank deposits, CBDC or stablecoins, investment products will bring more liquidity; Third, tokenized products are piloted on public chains. For example, we tried to tokenize assets on the Ethereum chain last year, which made us really start to think about smart contracts as the core of the product and how to use them, just like APIs outside the firewall, and we observed that if we provide a product in this way, it will also determine what assets users will connect to. The above structural market forces have jointly promoted the development of tokenized assets."