Odaily News At the roundtable session of "World on Chain: The Importance of Interoperability" at the 2024 Hong Kong SmartCon conference hosted by Chainlink, Tom Menner, CTO of SBI Digital Markets, said: "The development trends of DeFi include: 1. The supply side shifts to the demand side; 2. ETFs open the door for traditional funds to enter DeFi. How to further structure DeFi products so that they meet user needs in a form that meets compliance requirements is the next development focus. In addition, cross-chain links are closely related to the success of digital assets. In this regard, technical issues always exist, but more importantly, this is a business issue. Because as regulated financial entities, traditional financial institutions including SBI pay more attention to compliance and regulatory issues and risks, which is why TradFi's progress in technology implementation lags far behind the DeFi field. It is worth noting that in essence, our investor clients do not really care about the type of asset, that is, real-world assets or digital assets. They only care about the return rate and risk assessment of the asset before deciding whether to invest in such assets. Therefore, we hope to work with issuers such as HSBC to promote digital bonds (including RWA “We can also use the real-time settlement of digital assets and digital native assets in multiple trading markets (such as Italy) to improve operational efficiency. Of course, in this process, we must take into account the jurisdictional differences in the entire interoperability scenario. Different regions may have completely different regulations on tokenized assets.”